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LAMONTS ANNOUNCES SECOND-QUARTER AND FIRST HALF YEAR RESULTS

 BELLEVUE, Wash., June 15 /PRNewswire/ -- Lamonts Apparel Inc. (NASDAQ: LMNT) today reported results for its second quarter and First Half year ended May 1, 1993.
 For the quarter, Lamonts posted revenues of $50.1 million, off 2.3 percent from last year's $51.3 million, with comparable-store revenues off 3.1 percent.
 "The decrease in revenues is the result of the continued sluggish economy in the Pacific Northwest combined with an overall decline in consumer confidence," said Leonard M. Snyder, the company's chairman and chief executive officer. Snyder also added that "revenues were impacted by the unseasonably cool and wet weather in most of the company's markets this spring."
 The company also reported a $3.5-million reduction in its net loss to $3.4 million in second quarter 1993, as compared to a net loss of $6.9 million in fiscal 1992's second quarter. The company stated that the reduction in net loss reflected lower interest expense as a result of the company's recapitalization completed in October 1992.
 For the First Half year ended May 1, 1993, Lamonts recorded revenues of $129.9 million, off 2.0 percent from the $132.5 million in the 1992 period, with comparable-store revenues off 3.1 percent.
 The company reported a net loss of $2.4 million for the First Half year of fiscal 1993, a reduction of $4.5 million, as compared to the net loss of $6.9 million for the First Half year last year. Again, the company attributed the reduction in net loss to lower interest expense as a result of the company's recapitalization.
 Snyder further stated "that construction for the company's new full- line store in Moses Lake, Wash., was progressing on schedule. This store will open during the first week of August in time for the back-to- school season."
 Lamonts, a leading specialty apparel retailer, operates 51 full-line and five Lamonts For Kids stores throughout the Pacific Northwest, Alaska, the Intermountain states and the Upper Midwest.
 LAMONTS APPAREL INC.
 FINANCIAL HIGHLIGHTS
 CONSOLIDATED STATEMENTS OF OPERATION
 (Unaudited, dollars in thousands, except per-share data)
 Quarter Quarter First Half First Half
 Ended Ended Year Ended Year Ended
 May 1, May 2, May 1, May 2,
 1993 1992 1993 1992
 Revenues $50,102 $51,302 $129,926 $132,517
 Net loss (3,403) (6,905) (2,351) (6,871)
 Net loss per common
 share(A) $ (0.36) $(38.53) $ (0.25) $ (39.75)
 Weighted average common
 shares and equivalents
 outstanding(B) 9,357,940 185,970 9,357,468 185,970
 NOTE(A): Calculated after giving effect to dividends accumulated on preferred stock of $261,000 for the quarter ended May 2, 1992, and $522,000 for the First Half year ended May 2, 1992.
 NOTE(B): The weighted average common shares and equivalents outstanding for the quarter and First Half year ended May 2, 1992, have been restated to reflect the 1-for-30 reverse stock split that occurred on Oct. 30, 1992. If the shares and common share equivalents issued pursuant to the recapitalization had been outstanding during the entire quarter and six-month period, net loss per common share would have been (74 cents) and the weighted average common shares and equivalents outstanding would have been 9,353,018 for both the quarter and First Half year ended May 2, 1992.
 -0- 6/15/93
 /CONTACT: Earle Spokane of Lamonts Apparel, 206-644-5800/
 (LMNT)


CO: Lamonts Apparel Inc. ST: Washington IN: REA SU: ERN

SW -- SE007 -- 1985 06/15/93 09:31 EDT
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Date:Jun 15, 1993
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