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GOTTSCHALKS ANNOUNCES FIRST QUARTER RESULTS

 FRESNO, Calif., June 18 /PRNewswire/ -- Gottschalks Inc. (NYSE: GOT) today announced a net loss for the first quarter ending May 1, 1993, of $3,606,000, compared to a net loss of $1,539,000 for the first quarter of 1992, ending May 2, 1992. This resulted in a loss on a per-share basis of 35 cents, compared to a net loss of 15 cents per share a year earlier.
 "Since the second week in May," stated Joe Levy, chairman and chief executive officer, "sales have started to improve in a number of our stores in California, and we are definitely seeing shoppers coming back. Our Men's Division looks strong, with a very good Fathers' Day. Cosmetics, Accessories and Domestics are also doing well. Our new Hanford Mall store, which opened the beginning of March, is performing well.
 "We are aggressively reducing costs at all levels of our company."
 Gottschalks is a regional department store chain, currently operating 26 department stores and 23 specialty apparel stores in California, Tacoma, Wash., and Klamath Falls, Ore. Gottschalks offers moderate to upper moderately priced brand-name fashion merchandise.
 -0- 6/18/93
 /CONTACT: Charles Kill of Gottschalks, 209-434-8000/
 (GOT)


CO: Gottschalks Inc. ST: California IN: REA SU: ERN

TM-GT -- SF007 -- 3615 06/18/93 14:02 EDT
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Publication:PR Newswire
Date:Jun 18, 1993
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