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LECHTERS INC. REPORTS RESULTS

 HARRISON, N.J., May 27 /PRNewswire/ -- Lechters, Inc. (NASDAQ: LECH) announced today that net income for the 13 week period ended May 1, 1993 was $352,000 as compared with $493,000 for the prior year's comparable period, a decrease of 28 percent. Net income per share for this period was $0.02 as compared with $0.03 for the fiscal 1992 comparable period. Sales for the 13 week period ended May 1, 1993 increased 22 percent to $64,441 from the $52,892,000 reported for the prior year's comparable period.
 As of May 1, 1993, the company operated 519 stores in 39 states as compared to 455 stores on April 25, 1992, an increase of 14 percent in the number of stores open. The company's comparable store sales decreased 1.7 percent during the 13 week period ended May 1, 1993 as compared with the prior year's comparable period.
 LECHTERS, INC.
 (Dollars amounts in thousands, except per share data)
 Thirteen weeks ended May 1, 1993 April 25, 1992
 Sales $ 64,441 $ 52,892
 Cost of goods sold (including
 occupancy and indirect costs) 45,476 37,111
 Gross profit 18,965 15,781
 Selling, general and
 administrative expenses 17,625 14,468
 Operating income 1,340 1,313
 Other expenses (income):
 Interest expense 1,801 1,787
 Interest income (607) (1,172)
 Gains on sale of government
 securities (429) (89)
 Total other expenses 765 526
 Income before income tax provision 575 787
 Income tax provision 219 294
 Net income 356 493
 Income per share $ 0.02 $ 0.03
 Weighted average shares
 outstanding 17,173,000 17,214,000
 -0- 5/27/93
 /CONTACT: Philip J. Reilly, vice president and chief financial officer of Lechters, 201-481-1100/
 (LECH)


CO: Lechters, Inc. ST: New Jersey IN: REA SU: ERN

TS-TM -- NY089 -- 3153 05/27/93 17:15 EDT
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Publication:PR Newswire
Date:May 27, 1993
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