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EDISON BROTHERS REPORTS FIRST-QUARTER EARNINGS

 ST. LOUIS, June 3 /PRNewswire/ -- Edison Brothers Stores, Inc., (NYSE: EBS) operating earnings declined in the first quarter of 1993 as compared to 1992, it was reported today by Andrew E. Newman, chairman, and Martin Sneider, president.
 Net income in the quarter ended May 1, 1993, was $6.9 million, a decrease of 28.1 percent compared with net operating income of $9.6 million in the quarter ended May 2, 1992. Income per share was 31 cents in the 1993 quarter and 44 cents in the 1992 quarter.
 In total, the results for the first quarter of 1992 were restated to show a loss of $13.5 million or 62 cents per share because of a one-time after-tax charge of $23.1 million or $1.06 per share, related to accounting for postretirement benefits.
 As reported earlier, total sales for the first quarter of 1993 were $329.2 million, an increase of 0.7 percent over sales of $326.9 million in the first quarter of 1992. Sales in comparable stores were down slightly.
 "Despite our disappointing overall results, we are pleased with the solid first-quarter performance of certain of our store groups, including Wild Pair footwear stores, 5-7-9 Shops junior apparel stores, Exhilarama entertainment centers, and Dave & Buster's restaurant/entertainment complexes," said Sneider.
 During the first quarter Edison Brothers opened 28 new stores and closed 26, ending the period with 2,789 units in operation. The company expects to open about 140 stores (excluding any acquisitions) and close about 80 during 1993.
 "In addition to opening new stores and weeding out under-performing stores, we are continuing our aggressive program of remodeling and updating existing stores," said Newman. "In all of our divisions, new and remodeled stores are delivering sales higher than chain averages."
 Edison Brothers Stores, Inc., operates JW/Jeans West, Coda, Oaktree, J. Riggings, Zeidler & Zeidler/Webster, and Repp Ltd./Harry's men's apparel stores; 5-7-9 Shops junior apparel stores and Spirale girls' apparel stores; Bakers, Leeds, Precis, Wild Pair, and Sacha London footwear stores; Time-Out/Space Port and Party Zone family entertainment centers; Exhilarama anchor entertainment centers; and Dave & Buster's restaurant/entertainment complexes.
 EDISON BROTHERS STORES, INC. AND SUBSIDIARIES
 Condensed Consolidated Statements of Income
 (In millions, except per share data)
 13 Weeks Ended 5/1/93 5/2/92
 Net Sales $ 329.2 $ 326.9
 Cost of goods sold, occupancy and
 buying expenses 212.7 208.6
 Store operating and administrative
 expenses 84.9 82.9
 Depreciation and amortization 16.5 15.5
 Interest expense, net 4.2 4.6
 Total 318.3 311.6
 Income before income taxes 10.9 15.3
 Provision for income taxes 4.0 5.7
 Income before the change in
 accounting principle 6.9 9.6
 Cumulative effect of the change in
 accounting principle -- (23.1)
 Net Income (Loss) $ 6.9 $ (13.5)
 Per Common Share:
 Income before the change in
 accounting principle $ .31 $ .44
 Cumulative effect of the change in
 accounting principle -- (1.06)
 Net Income .31 (.62)
 Cash dividends paid $ .31 $ .28
 Weighted average common shares
 outstanding (in thousands) 22,016 21,642
 -0- 6/3/93
 /CONTACT: Lee G. Weeks of Edison Brothers, 314-331-6531/
 (EBS)


CO: Edison Brothers Stores, Inc. ST: Missouri IN: REA SU: ERN

SM -- NY031 -- 4880 06/03/93 10:23 EDT
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Date:Jun 3, 1993
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