JG INDUSTRIES REPORTS RESULTS
JG INDUSTRIES REPORTS RESULTS CHICAGO, Dec. 10 /PRNewswire/ -- JG Industries, Inc. (NASDAQ: JGIN)
reported sales of $51,401,000 and a net loss of $423,000, or $.13 per share (after preferred stock dividends) for the third quarter ended Oct. 26, 1991, as compared with sales of $47,221,000 and a net loss of $54,000, or $.06 per share, in the prior year. Prior year earnings were favorably impacted by a $1 million gain from debt restructuring.
Year to date sales increased to $148,010,000 as compared with $144,886,000 in the prior year, while the net loss increased to $1,669,000 from $1,136,000 in the prior year. Net loss applicable to common shares (after preferred stock dividends) was $.45 as compared with $.35 in the prior year. The Goldblatt's Discount stores and Huffman Koos Furniture stores have shown improved sales and profitability this year despite the recessionary conditions. The Milgram Kagan Shoe stores have seen a comparable store sales decline, impacting profitability throughout the year. JG Industries, Inc. is a Chicago-based retailing concern that operates, through its various subsidiaries, 12 Goldblatt's Department Stores in the Chicago metropolitan area, 11 Huffman Koos furniture stores in New Jersey and New York and 129 specialty shoe stores in seven states. -0- 12/10/91 /CONTACT: Tom Pabst of JG Industries, 312-787-0022/ (JGIN) CO: JG Industries, Inc. ST: Illinois IN: REA SU: ERN KD -- NY065 -- 1204 12/10/91 16:38 EST
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|Date:||Dec 10, 1991|
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