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JACOBSON STORES INC. REPORTS FOURTH-QUARTER AND ANNUAL RESULTS

 JACKSON, Mich., March 8 /PRNewswire/ -- Jacobson Stores Inc. (NASDAQ-NMS: JCBS) today reported sales for the 1992 fiscal year ended Jan. 30, 1993, of $411,631,000, up 4 percent from $395,677,000 in the previous year. Comparable store sales increased 3 percent. The 1992 fiscal year included 53 weeks. On an equivalent 52-week basis, the total sales gain was 2 percent and comparable store sales increased 1 percent. Net earnings were $3,910,000 compared to $4,218,000 in the prior year. On a per-share basis, net earnings in fiscal 1992 totaled 68 cents compared to 73 cents.
 Sales for the fourth quarter ended Jan. 30, 1993 (14 weeks), were $142,402,000, up 10 percent from $129,093,000 last year. Comparable store sales increased 7 percent. On an equivalent 13-week basis, the total sales increase was 5 percent and comparable store sales rose 2 percent. Net earnings for the quarter were $5,690,000 compared to $3,831,000 in the same period last year. On a per-share basis, net earnings for the quarter totaled 98 cents compared to 66 cents last year.
 On March 5, Jacobson's declared a regular quarterly dividend of 12 1/2 cents per share, payable on April 9, 1993, to shareholders of record on March 19, 1993. This represents Jacobson's 115th consecutive quarterly cash dividend to shareholders.
 The company currently operates specialty department stores in 25 cities in Michigan, Ohio, Indiana and Florida, including a new 46,000-square-foot store at the Waterside Shops at Pelican Bay in Naples, Fla., opened in November 1992.
 JACOBSON STORES INC.
 STATEMENTS OF SALES AND EARNINGS
 (Unaudited; in thousands except per-share data)
 Fiscal Year Ended Fourth Quarter Ended
 Jan. 30, Jan. 25, Jan. 30, Jan. 25,
 1993 1992 1993 1992
 (53 weeks) (52 weeks) (14 weeks) (13 weeks)
 Net sales $411,631 $395,677 $142,402 $129,093
 Earnings before income
 taxes 5,894 6,494 8,633 5,899
 Net earnings 3,910 4,218 5,690 3,831
 Per common share:
 Primary $0.68 $0.73 $0.98 $0.66
 Fully diluted 0.68 0.73 0.89 0.61
 Average shares outstanding:
 Primary 5,785 5,786 5,784 5,785
 Fully diluted 6,841 6,846 6,840 6,846
 -0- 3/8/93
 /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 DIV

SM -- DE008 -- 3961 03/08/93 11:22 EST
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Publication:PR Newswire
Date:Mar 8, 1993
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