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JG INDUSTRIES REPORTS RESULTS

 CHICAGO, June 16 /PRNewswire/ -- JG Industries, Inc. (NASDAQ: JGIN) reported first quarter sales of $38,306,000 as compared with $37,593,000 in the prior year. Overall sales were up 4.2 percent at the Goldblatt's Department Store division and were essentially flat at the Huffman Koos furniture division. Both divisions reported decreases in comparable store sales due to unseasonably cold and wet weather, particularly during the month of March; however, Huffman Koos has shown improvement during April and May, posting comparable store sales increases of 12.9 percent and 6.5 percent respectively. Management is optimistic that this trend will continue.
 The first quarter net loss decreased to $955,000 from a $1,120,000 loss in the prior year period. The first quarter net loss applicable to common shares (after preferred stock dividends) decreased to $1,000,000 ($.17 per share) from a $1,467,000 net loss ($.25 per share) in the prior year. This improvement was primarily due to the lower dividend requirements resulting from the fiscal 1993 preferred stock redemptions, and the liquidation of the unprofitable Milgram Kagan shoe division.
 JG Industries, Inc. is a Chicago-based retailing holding company that operates, through its various subsidiaries, 14 Goldblatt's Department Stores in the Chicago metropolitan area and 11 Huffman Koos furniture stores in New Jersey and New York.
 -0- 6/16/93
 /CONTACT: Bill Guzik of JG Industries, Inc., 312-850-8000/
 (JGIN)


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

LR -- NY042 -- 2596 06/16/93 12:03 EDT
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Publication:PR Newswire
Date:Jun 16, 1993
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