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

 MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS JULY SALES
 DOMINGUEZ, Calif., Aug. 6 /PRNewswire/ -- Mac Frugal's Bargains - Close-outs Inc. (NYSE: MFI) announced today that its sales for the four weeks ended Aug. 2, 1992, were $33,356,000, down 8.8 percent from $36,581,000 in the prior year. Sales in comparable stores for the four weeks were down 9.8 percent.
 Total sales for the second quarter (13 weeks ended Aug. 2, 1992) were down 6.4 percent, while comparable store sales for the quarter decreased 6.7 percent over last year. Total sales for the 26 weeks year-to-date were $222,923,000, a decrease of 1.5 percent from the prior year. Year-to-date comparable store sales were down 2.0 percent.
 "Our sales performance cycles up and down depending on the flow of new fresh goods into our stores," commented Len Williams, president and chief executive officer. "We are feeling the effect right now of going up against tough numbers from last year, without the benefit of any huge, traffic-generating buys like we had at this time last year. In addition, we need to build back the traffic in those markets where we have recently changed the name on our stores."
 During the month of July, the company kicked off its expansion program with the opening of its newest and largest store in El Paso, Texas. This 34,000-square-foot store will be one of several larger test stores which the company will open over the next 18 months as part of its overall expansion program.
 "The successful opening of this new, larger format test store is a milestone event," said Williams. "We can offer our customers a more dominant assortment of great bargains in all merchandise categories -- including gifts, toys, domestics, casual furniture, tabletop, family clothing and food and position ourselves as an even stronger destination shopping point for our customers."
 The company operates a chain of 194 retail stores in 12 states. 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- 8/6/92
 /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:


LS-KJ -- LA007 -- 7389 08/06/92 08:04 EDT
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Publication:PR Newswire
Date:Aug 6, 1992
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