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EDISON BROTHERS SALES AND EARNINGS DOWN IN SECOND QUARTER

 ST. LOUIS, Sept. 1 /PRNewswire/ -- Edison Brothers Stores, Inc. (NYSE: EBS), sales and earnings declined in the second quarter of 1993, according to Andrew E. Newman, chairman, and Martin Sneider, president.
 Edison's net income was $3.2 million in the quarter ended July 31, 1993, a decrease of 74.8 percent compared with $12.7 million in the quarter ended Aug. 1, 1992. Income per share was 15 cents in the 1993 quarter and 59 cents in the 1992 quarter.
 Total sales for the second quarter of 1993 were $338.0 million, a decrease of 3.1 percent compared with sales of $348.7 million in the second quarter of 1992. Sales in comparable stores also were down.
 Total net income for the first half of 1993 was $10.1 million, a decrease of 54.7 percent compared with operating income of $22.3 million for the first half of 1992. Income per share was 46 cents in the first half of 1993 and $1.03 in the first half of 1992. Sales were $667.2 million in the first half of 1993, a decline of 1.2 percent.
 (Total net income for the first half of 1992 has been restated to reflect a one-time after-tax charge of $23.1 million or $1.06 per share in the first quarter, related to accounting for postretirement benefits.)
 The company reported that its entertainment group and some of its more traditional fashion chains are performing reasonably well, but that consumer hesitancy has held down sales in its chains with more advanced fashion orientation.
 During the second quarter Edison Brothers added 100 stores, including the previously announced acquisition of 73 men's big-and-tall stores from three separate sellers. The company closed 32 stores, ending the period with 2,857 stores in operation. Excluding any further acquisitions, Edison expects to add a total of about 125 stores this year.
 Edison Brothers Stores, Inc., operates JW/Jeans West, Oaktree, Coda, J. Riggings, Zeidler & Zeidler/Webster, and Repp Ltd./Harry's menswear 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, Dave & Buster's restaurant/entertainment complexes, and Exhilarama anchor entertainment centers.
 EDISON BROTHERS STORES, INC. AND SUBSIDIARIES
 CONDENSED CONSOLIDATED STATEMENTS OF INCOME
 13 Weeks Ended 26 Weeks Ended
 July 31, Aug. 1, July 31, Aug. 1,
 1993 1992 1993 1992
 (In millions, except per share data)
 Net Sales $ 338.0 $ 348.7 $ 667.2 $ 675.6
 Cost of goods sold,
 occupancy and
 buying expenses 228.1 226.4 440.8 435.0
 Store operating and
 administrative
 expenses 83.0 81.8 167.9 164.7
 Depreciation and
 amortization 16.3 15.9 32.8 31.4
 Interest expense, net 5.4 4.5 9.6 9.1
 332.8 328.6 651.1 640.2
 Income before income
 taxes 5.2 20.1 16.1 35.4
 Provision for income
 taxes 2.0 7.4 6.0 13.1
 Income before the
 change in accounting
 principle 3.2 12.7 10.1 22.3
 Cumulative effect of the
 change in accounting
 principle -- -- -- (23.1)
 Net Income (Loss) $ 3.2 $ 12.7 $ 10.1 $ (.8)
 Per Common Share:
 Income before the
 change in
 accounting
 principle $ .15 $ .59 $ .46 $ 1.03
 Cumulative effect of the
 change in accounting
 principle -- -- -- (1.06)
 Net Income (Loss) $ .15 $ .59 $ .46 $ (.03)
 Cash dividends
 paid $ .31 $ .28 $ .62 $ .56
 Weighted average common
 shares outstanding
 (in thousands) 22,060 21,691 22,038 21,667
 -0- 9/1/93
 /CONTACT: Lee G. Weeks of Edison Brothers, 314-331-6531/
 (EBS)


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

SH -- NY022 -- 7871 09/01/93 10:34 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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