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MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS AUGUST SALES

 MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS AUGUST SALES
 DOMINGUEZ, Calif., Sept. 3 /PRNewswire/ -- Mac Frugal's Bargains - Close-outs Inc. (NYSE: MFI) announced today that its sales for the four weeks ended Aug. 30, 1992, were $33,976,000, down 13.1 percent from $39,116,000 in the prior year. Sales in comparable stores for the four weeks were down 13.4 percent. Sales for the 30 weeks year- to-date were $256,899,000, a decrease of 3.3 percent from the prior year's sales of $265,525,000. Year-to-date comparable store sales declined 3.7 percent.
 "August 1991 was an exceptional month for us in that we benefited from several large, one-time close-out buys, making the comparison with this year especially tough," commented Len Williams, president and chief executive officer. "Our business ebbs and flows with the availability of key merchandise deals."
 In addition, the company's August sales were negatively impacted in the Southeast by Hurricane Andrew. More than 50 stores experienced some level of disruption during the last week of fiscal August. Two of the six stores in Miami will remain closed for several weeks.
 The company also opened a new store in San Diego during August, bringing the total number of stores to 195. These stores, which do business as Pic 'N' Save and Mac Frugal's Bargains - Close-outs, feature a wide variety of first quality general merchandise obtained through manufacturer close-outs, overruns, discontinued lines and packaging changes. An ever-changing assortment of merchandise is typically sold at 40 percent to 70 percent off regular retail prices.
 -0- 9/3/92
 /CONTACT: Phil Carter, senior VP and CFO, 310-761-4167; or Eileen Hupp, assistant VP, marketing, 310-761-4214, both of Mac Frugal's Bargains - Close-outs/
 (MFI) CO: Mac Frugal's Bargains - Close-outs Inc. ST: California IN: REA SU:


JB-KJ -- LA007 -- 6193 09/03/92 06:00 EDT
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Publication:PR Newswire
Date:Sep 3, 1992
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