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EDISON BROTHERS STORES REPORTS RECORD ANNUAL SALES

 ST. LOUIS, Feb. 4 /PRNewswire/ -- Edison Brothers Stores, Inc. (NYSE: EBS) announced today that sales reached $1.51 billion for the fifty-two weeks ended Jan. 30, 1993, setting an annual sales record for the company. Sales increased $123.1 million, or 8.9 percent over sales of $1.39 billion for the comparable fifty-two weeks ended Feb. 1, 1992.
 For the last four weeks of fiscal 1992, ended Jan. 30, 1993, Edison reported sales of $84.0 million. This compares with $79.6 million for the four weeks ended Feb. 1, 1992, an increase of $4.4 million or 5.5 percent.
 Edison also announced that in 1992 it will adopt the new method of accounting for medical and life insurance benefits for company retirees (as is required for all companies by the Financial Accounting Standards Board by the first quarter of 1993). This will result in an estimated one-time after-tax charge to income of $23.1 million (approximately $1.07 per share) for previously earned but unpaid benefits. Because of steps previously taken by the company to control the growth of these expenses, future annual accruals of these costs are expected to approximately equal the pay-as-you-go cost recorded in the past.
 -0- 2/4/93
 /CONTACT: Lee G. Weeks of Edison Brothers Stores, 314-331-6531/
 (EBS)


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

WB -- NY045 -- 2878 02/04/93 10:26 EST
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Publication:PR Newswire
Date:Feb 4, 1993
Words:235
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