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DRUG EMPORIUM REPORTS PROFIT FOR FIRST FISCAL QUARTER

 COLUMBUS, Ohio, June 23 /PRNewswire/ -- Drug Emporium, Inc. (NASDAQ: DEMP) today reported a profit for the first fiscal quarter ended May 29, 1993, which compares with a loss for the corresponding three months last year.
 Net income amounted to $151,000 or one cent per share vs. a net loss in the first quarter a year ago of $710,000 or five cents per share. Net sales totaled $184.0 million compared with sales of $187.8 million in the similar period last year.
 David L. Kriegel, Drug Emporium's chairman and chief executive officer, said, "While we are encouraged by this modest improvement, we realize that there is much work yet to be done. We are optimistic about the future but there are no quick fixes here. The fact that same store sales were down five percent in the quarter versus last year illustrates that there are many business and competitive issues for us to overcome.
 Drug Emporium is a national chain of 134 company-owned stores specializing in competitively priced health and beauty aids, cosmetics and prescription drugs. The company's financial statements also reflect franchise revenue from an additional 99 Drug Emporium stores.
 DRUG EMPORIUM, INC.
 CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited)
 (In thousands except per-share amounts)
 Three Months Ended
 May 29, May 30,
 1993 1992
 Net sales $184,009 $187,763
 Cost of sales 144,845 150,432
 Selling, administrative and
 occupancy expenses 37,368 37,084
 Other expense 1,544 1,392
 Total cost and expenses 183,757 188,908
 Income (loss) before income taxes 252 (1,145)
 Provision (benefit) for income taxes 101 (435)
 Net income (loss) $ 151 $ (710)
 Net income (loss) per share $ .01 $ (.05)
 Weighted average number of common
 and common equivalent shares 13,120 13,112
 -0- 6/23/93
 /CONTACT: Jane Lagusch, vice president and corporate secretary of Drug Emporium, Inc., 614-548-7080; or Investor Relations Consultants, Inc., 614-436-5592, for Drug Emporium, Inc./
 (DEMP)


CO: Drug Emporium, Inc. ST: Ohio IN: REA SU: ERN

AW -- FL003 -- 4878 06/23/93 09:16 EDT
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Publication:PR Newswire
Date:Jun 23, 1993
Words:338
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