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JG INDUSTRIES, INC. REPORTS RESULTS

 CHICAGO, April 30 /PRNewswire/ -- JG Industries, Inc. (NASDAQ: JGIN) today reported net income for the fourth quarter ended Jan. 30, 1993, of $2,242,000 as compared with $169,000 in the prior year. In the current year, the net income applicable to each common share (after preferred stock dividends) was $.35 as compared with a loss of $.03 in the prior year. Income from continuing operations increased to $1,933,000 as compared with $1,028,000 in the prior year. Sales from continuing operations were $54,566,000, as compared with prior year sales of $45,666,000. Improved sales at the Huffman Koos furniture division particularly impacted fourth quarter operations. The Milgram Kagan shoe division is now considered a discontinued operation pursuant to the previously announced sale of its remaining stores.
 The fiscal 1993 net loss of $7,149,000 compared with a net loss in the prior year of $1,500,000. However, net income from continuing operations improved to $691,000 as compared with $136,000 in the prior year. Net sales from continuing operations were $168,939,000 in the current fiscal year and $153,589,000 in the prior year. In the current year, the net loss applicable to each common share (after preferred stock dividends) was $1.41 as compared with $.48 in the prior year.
 The JG Industries, Inc. Board of Directors set the annual meeting date for July 20, 1993, with a record date for common shareholders of June 11, 1993.
 JG Industries, Inc. is a Chicago-based retail holding company that operates, through its various subsidiaries, 14 Goldblatt's Department Stores in the Chicago metropolitan area and 12 Huffman Koos furniture stores in New Jersey and New York.
 -0- 4/30/93
 /CONTACT: Tom Pabst of JG Industries, 312-850-8000/
 (JGIN)


CO: JG Industries, Inc. ST: Illinois IN: REA SU: ERN

WB -- NY067 -- 3255 04/30/93 13:36 EDT
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Publication:PR Newswire
Date:Apr 30, 1993
Words:318
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