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

 DOMINGUEZ, Calif., Aug. 5 /PRNewswire/ -- Mac Frugal's Bargains - Close-outs Inc. (NYSE: MFI) announced today that its sales for the four weeks ended Aug. 1, 1993, were $34,776,000, up 4.3 percent, compared with $33,356,000 in the prior year. Sales in comparable stores for the four weeks were down 7.0 percent.
 Sales for the second quarter (13 weeks ended Aug. 1, 1993) were $116,071,000, up 6.6 percent, compared with $108,866,000 in the prior year. Sales in comparable stores were down 4.4 percent from the previous year.
 Sales for the 26 weeks year-to-date were $242,823,000, an increase of 8.9 percent from prior-year's sales of $222,923,000. Year-to-date comparable store sales were down 1.1 percent.
 Leonard S. Williams, president and chief executive officer, commented that while comparable store sales were disappointing, the expansion was continuing close to plan. He further added that with seven new stores opening in July, the plan for additional 36 new regular stores and 150 Christmas stores for the year will be achieved.
 The company operates a chain of 221 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- 8/5/93
 /CONTACT: Phil Carter, senior VP & CFO, 310-761-4167, or Dan Felsenthal, controller, 310-761-4104, both of MacFrugal's Bargains - Close-outs/
 (MFI)


CO: MacFrugal's Bargains - Close-outs Inc. ST: California IN: REA SU:

JL-JB -- LA005 -- 9630 08/05/93 06:00 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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