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FILENE'S BASEMENT TO ENTER TWIN CITIES MARKET WITH THREE TO FOUR STORES THIS YEAR

 FILENE'S BASEMENT TO ENTER TWIN CITIES MARKET
 WITH THREE TO FOUR STORES THIS YEAR
 WELLESLEY, Mass., Jan. 31 /PRNewswire/ -- Filene's Basement Corp. (NASDAQ: BSMT) announced today that it plans to open three to four stores in the Twin Cities of Minneapolis-St. Paul, Minn., during 1992. The opening of these stores represents the initial phase of a five-to- seven store strategy for Filene's Basement in the marketplace.
 Three suburban locations are tentatively scheduled to open in September and a fourth site, located in the central business district of Minneapolis, is currently under negotiation for a late fall 1992 or spring 1993 opening. Two of the suburban locations are in close proximity to the Ridgedale and Southdale Malls; the third store will be in the 4.2-million-square-foot Mall of America.
 In commenting on this announcement, Jim Anathan, president of Filene's Basement, said, "The Minneapolis/St. Paul area has the population, growth and quality of demographics ideal for Filene's Basement. We believe our value equation -- quality, fashion-right merchandise at great savings -- will provide a viable alternative to the current merchandise offering in this community."
 Filene's Basement plans to open 10-12 stores during its 1992 fiscal year. Three of those locations, Taunton, Mass., Middletown, N.Y., and Vernon Hills, Ill. are scheduled to open in the April/May period. Randhurst, Ill.; St. Davids, Penn.; Albany, N.Y.; and an additional Chicago location are planned for opening in the October/ November period.
 Filene's Basement operates specialty stores which offer, focused, quality, branded assortments of men's and women's apparel at discount prices. The company currently has 37 stores primarily in the northeast corridor extending from Portland, Maine to Philadelphia, Penn. The company opened three stores in Chicago during the fall of 1992.
 -0- 1/31/92
 /CONTACT: Jim Anathan, president of Filene's Basement, 617-348-7042/
 (BSMT) CO: Filene's Basement Corp. ST: Massachusetts, Minnesota IN: REA SU:


SH-TM -- NE005 -- 5515 01/31/92 09:56 EST
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Publication:PR Newswire
Date:Jan 31, 1992
Words:318
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