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HAMPTON INDUSTRIES REPORTS EARNINGS

 KINSTON, N.C., Aug. 4 /PRNewswire/ -- Hampton Industries, Inc. (AMEX: HAI) reported net sales of $35,626,000 for the quarter ended June 26, 1993, as compared to $38,351,000 in 1992. The company incurred a loss of $1,756,000, or $.38 per share, as compared to a loss of $590,000, or $.13 per share, in the comparable quarter of 1992.
 For the six months ended June 26, 1993, net sales totaled $80,967,000 versus net sales of $81,978,000 last year. The loss for the current year totaled $2,636,000, or $.57 per share, compared to a loss of $101,000, or $.02 in 1992.
 David Fuchs, chairman and chief executive officer, stated that sluggish retail demand, caused by the lack of consumer confidence, resulted in customers postponing delivery of spring merchandise and delaying the distribution of fall merchandise. In addition, pricing concessions and, to a lesser degree, the consolidation and discontinuance of certain product lines also contributed to the decrease in sales. Pricing concessions adversely affected the results of operations as margins were decreased by 4 percent in the quarter and 4.7 percent for the year.
 On a positive note, the restructuring of the company's manufacturing operations has resulted in a significant improvement in their operating performance. The company has experienced an improving sales trend since the end of June, as sales for July were 10 percent above the prior year. He also stated that the company would return to profitability in the third quarter.
 It is anticipated that the negotiation of a new Bank Credit Agreement will be completed within the next three weeks.
 The company's advance bookings totaled approximately $109,000,000 as of the end of July 1993 as compared to $117,500,000 as of the same date last year.
 HAMPTON INDUSTRIES, INC.
 Thirteen Weeks Ended
 June 26, 1993 June 27, 1992
 Net sales $35,626,000 $38,351,000
 Net loss $(1,756,000) $(590,000)
 Loss per share $(.38) $(.13)
 Average shares outstanding 4,585,710 4,585,710
 Twenty-six Weeks Ended
 June 26, 1993 June 27, 1992
 Net sales $80,967,000 $81,978,000
 Net loss $(2,636,000) $(101,000)
 Net loss per share $(.57) $(.02)
 Average shares outstanding 4,585,710 4,585,710
 Per share data for the 1992 periods have been restated to reflect the 10 percent common stock dividend which was distributed to shareholders in July 1993.
 -0- 8/4/93
 /CONTACT: Robert J. Stiehl Jr., Vice President - Finance, Hampton Industries, Inc., 919-527-8011/
 (HAI)


CO: Hampton Industries, Inc. ST: North Carolina IN: TEX SU: ERN

SB -- CH004 -- 9289 08/04/93 10:44 EDT
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Publication:PR Newswire
Date:Aug 4, 1993
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