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

 MAC FRUGAL'S BARGAINS - CLOSE-OUTS INC. REPORTS JUNE SALES
 DOMINGUEZ, Calif., July 9 /PRNewswire/ -- Mac Frugal's Bargains - Close-outs Inc. (NYSE: MFI) announced today that its sales for the five weeks ended July 5, 1992 were $42,322,000, down 5.7 percent from $44,864,000 in the prior year. Sales in comparable stores for the four weeks were down 5.5 percent. Sales for the 22 weeks year-to- date were $189,567,000, a decrease of 0.1 percent from the prior year's sales of $189,829,000. Year-to-date comparable stores sales decreased 0.5 percent.
 "In view of our recent sales performance, we have taken several steps to pick up the pace and bring more excitement back into our stores," commented Len Williams, president and chief executive officer. "These steps include sharpening prices on select items and strengthening our advertising schedule for the rest of the year to build traffic in all stores."
 The company operates a chain of 193 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 to 70 percent off regular retail prices. Until recently, the company operated as Pic 'N' Save Corp.
 -0- 7/9/92
 /CONTACT: Eileen Hupp, assistant VP-marketing of Mac Frugal's Bargains - Close-outs, 310-761-4214/
 (MFI) CO: Mac Frugal's Bargains - Close-outs Inc. ST: California IN: REA SU:


AL-CH -- LA006 -- 8124 07/09/92 11:33 EDT
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Publication:PR Newswire
Date:Jul 9, 1992
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