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GOTTSCHALKS ANNOUNCES JULY SALES RESULTS

 GOTTSCHALKS ANNOUNCES JULY SALES RESULTS
 FRESNO, Calif., Aug. 6 /PRNewswire/ -- Gottschalks Inc. (NYSE: GOT)


announced that July 1992 sales increased 3.6 percent to $21.9 million from $21.1 million for the prior year July period. Same store sales for the July period decreased 2.2 percent.
 For the quarterly period ended Aug. 1, 1992, total sales increased 5.8 percent to $75.0 million from $70.9 million for the prior year quarterly period. Same store sales for the second quarter decreased 1.3 percent.
 Total sales for the six month period increased 6.3 percent to $142.3 million from $133.8 million for the prior year six month period. Same store sales on a year-to-date basis decreased 1 percent.
 James Clifford, executive vice president and chief financial officer, commented, "sales for the quarter were disappointing and reflect the difficult economic environment and uncertainty present on a national level. The budget problems in California have further effected the local economy. In the last two months of the quarter, promotional activity has intensified. Primarily as a result of these factors, the company will operate at a loss for the quarter compared to a $.07 per share profit for the second quarter of last year. The Internal Revenue Service has made no assessment with respect to any amounts due on the previously reported challenged tax deduction. The company has, however, booked a charge of $1.5 million reflecting the recent settlement with the government. This settlement resolved all outstanding issues with the United States Attorney's Office."
 Sales results are summarized as follows:
 Aug. 1, Aug. 3, Total Same Store
 1992 1991 Percent Sales
 Increase Decrease
 Sales, four
 weeks ended $21,891 $21,127 3.6 pct. (2.2 pct.)
 Sales, 13 weeks
 ended $75,000 $70,901 5.8 pct. (1.3 pct.)
 Sales, 26 weeks
 ended $142,251 $133,831 6.3 pct. (1.0 pct.)
 Gottschalks is a regional department store chain, currently operating 25 department stores and 22 specialty apparel stores in California, Tacoma, Wash., and Klamath Falls, Ore. Gottschalks offers moderately to upper moderately priced brand-name fashion merchandise.
 -0- 8/6/92
 /CONTACT: Joe Levy of Gottschalks, 209-434-8000/
 (GOT) CO: Gottschalks Inc. ST: California IN: REA SU: ERN


MM -- SF010 -- 7860 08/06/92 22:05 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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