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FILENE'S BASEMENT ANNOUNCES THE OPENING OF 12 NEW STORES IN 1993

 WELLESLEY, Mass., Feb. 10 /PRNewswire/ -- Filene's Basement Corp., (NASDAQ: BSMT) today announced plans to open 12 new stores in 1993. Three stores will be open in the spring and nine stores will open in the fall. The 1993 new store schedule includes Filene's Basement's third new market entry in as many years -- up to four Washington , D.C., stores will open this fall.
 The three Spring openings will include two stores in Filene's Basement's home market, Boston. Both stores will open in April, one in the Arsenal Mall, Watertown and other in Wellesley, just minutes away from corporate headquarters. The third spring store will open in Jersey City, N.J. in early May.
 Up to four of the fall stores will initiate Filene's Basement's entry into the Washington, D.C. market, including one store in the downtown area. The scheduled September grand opening of the Washington D.C. entry follows the company's grand openings in Chicago, in 1991 and Minneapolis in 1992. Up to five other openings are scheduled for September and October in the Northeast and Midwest markets.
 In commenting on the 1993 store opening program, Jim Anathan, president of Filene's Basement, said, "The 1993 expansion program remains consistent with our long-term strategy of backfilling within existing markets, coupled with geographic diversification in Metropolitan markets that offer multiple store opportunities.
 Our plans to open a minimum of five new stores in the Washington area over the next two years represents the first phase of a much larger store program in the marketplace. Washington has long been recognized for its quality demographics, fashion orientation and sophistication -- all important ingredients for a successful market entry program."
 Filene's Basement Corp., operates specialty stores which offer quality, branded assortments of men's and women's apparel at prices 20 percent to 60 percent below department and specialty store prices. The company currently operates 49 stores in the Northeast and Midwest.
 The company's flagship store in Downtown Boston, which opened in 1908, makes it America's oldest off-price retailer. Most analysts agree that Filene's Basement Corp. is also the industry's most productive retailer -- enjoying sales per average selling square foot of over $500.
 -0- 2/10/93
 /CONTACT: Gary Crittenden of Filene's Basement, 617-348-7156/
 (BSMT)


CO: Filene's Basement ST: Massachusetts IN: REA SU:

TM -- NE002 -- 5044 02/10/93 09:51 EST
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Publication:PR Newswire
Date:Feb 10, 1993
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