Printer Friendly

JACOBSON STORES INC. ANNOUNCES FIRST-QUARTER RESULTS

 JACOBSON STORES INC. ANNOUNCES FIRST-QUARTER RESULTS
 JACKSON, Mich., May 18 /PRNewswire/ -- Jacobson Stores Inc.


(NASDAQ: JCBS) today reported sales for the first quarter ended April 25, 1992, increased from $90,831,000 to $91,574,000, up 1 percent. Net earnings for the quarter increased to $1,314,000 or 23 cents per share from $1,272,000 or 22 cents per share in the prior year.
 "Results for the first quarter indicate that our organization is continuing to respond positively to a challenging retail environment," said J.R. Fowler, chairman and CEO. "With our strong financial condition, we are well positioned to take advantage of a recovery in consumer spending."
 In March, the company signed a lease for a 46,000-square-foot store under construction in Naples, Fla., to open in late 1992. In addition, the company has signed a lease for an 80,000-square-foot store to be constructed in Boca Raton, Fla., targeted to open in late 1992.
 Jacobson's operates specialty department stores in 24 cities in Michigan, Ohio, Indiana and Florida.
 JACOBSON STORES INC.
 CONSOLIDATED STATEMENTS OF EARNINGS
 (Unaudited; in thousands except per-share data)
 13 Weeks Ended
 April 25, April 27,
 1992 1991
 Net sales $91,574 $90,831
 Earnings before income taxes 2,022 1,957
 Provision for income taxes 708 685
 Net earnings 1,314 1,272
 Per common share:
 Primary .23 .22
 Fully diluted .23 .22
 Average shares outstanding:
 Primary 5,787 5,784
 Fully diluted 6,843 6,841
 -0- 5/18/92
 /CONTACT: Paul W. Gilbert, executive vice president and chief financial officer, Jacobson Stores Inc., 517-764-6400/
 (JCBS) CO: Jacobson Stores Inc. ST: Michigan IN: REA SU: ERN


SM -- DE017 -- 1312 05/18/92 12:02 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 18, 1992
Words:284
Previous Article:CHEVRON APOLOGIZES FOR CLEAN WATER ACT VIOLATIONS OFFSHORE CALIFORNIA; LISTS STEPS TAKEN TO ENSURE ENVIRONMENTAL PROTECTION
Next Article:COMPUTONE APPOINTS VINCENT BRENNAN AS VICE PRESIDENT OF DIRECT SALES AND PETER BARON AS PUBLIC RELATIONS DIRECTOR
Topics:


Related Articles
JACOBSON'S DECLARES REGULAR QUARTERLY DIVIDEND
NUTMEG REPORTS RECORD SALES AND EARNINGS FOR FISCAL 1992
NUTMEG REPORTS RECORD FIRST QUARTER SALES AND EARNINGS
JACOBSON STORES INC. ORGANIZATIONAL CHANGES AND DIVIDEND ANNOUNCEMENT
JACOBSON STORES INC. REPORTS SECOND-QUARTER RESULTS
JACOBSON'S DECLARES REGULAR QUARTERLY DIVIDEND
JACOBSON'S SECURES LONG-TERM FINANCING
AILEEN, INC. REPORTS FIRST QUARTER RESULTS
NUTMEG REPORTS RECORD SALES AND EARNINGS FOR 13TH CONSECUTIVE QUARTER
NEWS BRIEFS.

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters