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JACOBSON STORES INC. ANNOUNCES FOURTH-QUARTER AND ANNUAL RESULTS

 JACOBSON STORES INC. ANNOUNCES FOURTH-QUARTER AND ANNUAL RESULTS
 JACKSON, Mich., March 6 /PRNewswire/ -- Jacobson Stores Inc. (NASDAQ: JCBS) today reported sales for the year ended Jan. 25, 1992, of $395,677,000 compared to $394,009,000 in the previous year. Net earnings were $4,218,000 compared to $2,365,000 in the prior year. On a per-share basis, net earnings in fiscal 1991 totaled 73 cents compared to 41 cents.
 Sales for the fourth quarter ended Jan. 25, 1992, were $129,093,000, up 1 percent from $127,477,000 last year. Net earnings for the quarter were $3,831,000 compared to $3,813,000 in the same period last year. On a per-share basis, net earnings for the quarter were 66 cents in both years.
 On March 2, Jacobson's declared a regular quarterly dividend of 12 1/2 cents per share, payable on April 10, 1992, to shareholders of record on March 13, 1992. This represents Jacobson's 111th consecutive quarterly cash dividend to shareholders.
 The company currently operates specialty department stores in 24 cities in Michigan, Ohio, Indiana and Florida. A new Jacobson store is set to open in Naples, Fla., in late 1992.
 JACOBSON STORES INC.
 STATEMENTS OF SALES AND EARNINGS
 (Unaudited; in thousands except per-share data)
 Fiscal Year Ended 13 Weeks Ended
 1/25/92 1/26/91 1/25/92 1/26/91
 Net sales $395,677 $394,009 $129,093 $127,477
 Earnings before
 income taxes 6,494 2,862 5,899 5,023
 Net earnings 4,218 2,365 3,831 3,813
 Per common share:
 Primary $0.73 $0.41 $0.66 $0.66
 Fully diluted 0.73 0.41 0.61 0.61
 Average shares
 outstanding:
 Primary 5,786 5,780 5,785 5,779
 Fully diluted 6,846 6,836 6,846 6,835
 -0- 3/6/92
 /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


JG-ML -- DE030 -- 6009 03/06/92 16:36 EST
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Publication:PR Newswire
Date:Mar 6, 1992
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