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FREDERICK'S OF HOLLYWOOD INC. REPORTS RESULTS

 FREDERICK'S OF HOLLYWOOD INC. REPORTS RESULTS
 LOS ANGELES, Jan. 10 /PRNewswire/ -- Frederick's of Hollywood


Inc. (NYSE: FHO) today reported a decline in earnings on essentially the same sales for the first fiscal quarter, as compared with the corresponding prior-year period.
 For the three months ended Nov. 30, 1991, net earnings declined 16 percent to $509,000, equal to $.06 per share, on sales of $25,673,000. For the first fiscal quarter last year, net earnings amounted to $609,000, or $.07 per share, on sales of $25,592,000.
 The earnings per share amount for the prior-year period was adjusted to reflect a 3-for-2 stock split effective April 29, 1991.
 George W. Townson, chairman and chief executive officer, attributed the earnings decline primarily to lower than anticipated retail store sales, higher occupancy expenses, reflecting 13 additional stores in operation and the increased cost of lease renewals. He noted that sales, as with most national retailers, were impacted by the recessionary environment.
 For the first quarter, Townson said the stores registered an 89 percent decline in operating profits, on a 1 percent sales decrease. Comparable store sales declined 8 percent. The mail order subsidiary posted an 86 percent increase in operating profits, due largely to lower catalog advertising expenses, on a 2 percent sales increase.
 "The company's balance sheet remains strong, and we will continue to build upon our strengths for long-term growth," said Townson. "At the same time, inventories and expenses throughout the company will be closely monitored during the current challenging economic climate."
 At the close of the first quarter, Frederick's operated 197 specialty stores in 37 states and a mail-order division serving customers in all 50 states.
 FREDERICK'S OF HOLLYWOOD INC. AND SUBSIDIARIES
 Consolidated Condensed Statement of Earnings
 (Unaudited)
 Three Months Ended
 Nov. 30, Dec. 1,
 1991 1990
 Net sales $25,673,000 $25,592,000
 Earnings before
 income taxes $870,000 $1,040,000
 Federal and state
 income taxes $361,000 $431,000
 Net earnings $509,000 $609,000
 Net earnings
 per share $.06 $.07(a)
 Weighted average
 number of shares
 outstanding 9,030,000 8,527,000
 (a) Adjusted to reflect a 3-for-2 stock split effective April 29, 1991.
 -0- 1/9/92
 /CONTACT: George W. Townson or John B. Hatfield of Frederick's of Hollywood, 213-466-5151 or Roger S. Pondel of Rifkind Pondel & Parsons, 310-207-9300, for Frederick's of Hollywood/
 (FHO) CO: Frederick's of Hollywood Inc. ST: California IN: REA SU: ERN


AL -- LA002 -- 8594 01/10/92 11:30 EST
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Date:Jan 10, 1992
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