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OSHMAN'S SPORTING GOODS ANNOUNCES FOURTH QUARTER RESULTS

 OSHMAN'S SPORTING GOODS ANNOUNCES FOURTH QUARTER RESULTS
 HOUSTON, March 20 /PRNewswire/ -- Oshman's Sporting Goods, Inc., (NASDAQ-NMS: OSHM) announced today that the fourth quarter results improved considerably from last year's final quarter. Earnings for the quarter ended Feb. 1, 1992 were $2,501,000 compared to $298,000 last year. Earnings per share were $.43 compared to $.05 last year.
 Sales in the quarter reached $95.7 million down 1.1 percent from the previous year, although same store sales increased 2 percent. At the end of the quarter, Oshman's was operating 183 stores compared to 189 at the end of last year.
 Alvin N. Lubetkin, chief executive officer, stated that he was pleased with the results of the fourth quarter which reversed the downtrend Oshman's was experiencing earlier in 1991. "There were some unusual factors that affected our business earlier, but we're looking ahead and we are reasonably optimistic. Total sales for February, the first month of our new year, were up 6.7 percent overall and 8.7 percent on a same store basis."
 Lubetkin added, "Our two SuperSports USA super stores continue to perform well. Based on their successful performance, we will open at least two additional SuperSports USA stores this year and we anticipate that our future new store expansion will most likely be in the SuperSports USA format."
 Fourth quarter and year ended February 1, 1992 results are as follows.
 OSHMAN'S SPORTING GOODS, INC.
 CONSOLIDATED STATEMENTS OF OPERATIONS
 Periods ended Three months 12 months
 2/1/92 2/2/91 2/1/92 2/2/91
 Net sales $ 95,727,000 $ 96,809,000 $297,829,000 $318,100,000
 Earns. (loss)
 bef. inc.
 taxes $ 3,682,000 $ 812,000 $ (6,302,000) $ (6,370,000)
 Income taxes
 (benefits) 1,181,000 514,000 (2,264,000) (2,286,000)
 Earns. (loss)
 bef. cumulative
 effect of a
 change in
 accounting
 principal 2,501,000 298,000 (4,038,000) (4,084,000)
 Cumulative
 effect on
 prior years
 (to Feb. 2, 1991)
 of a change in
 accounting
 for income
 taxes (C) -- -- 1,188,000 --
 Net earns.
 (loss)(B) $ 2,501,000 $ 298,000 $ (2,850,000) $ (4,084,000)
 Earns. (loss)
 per share
 (A)(B) $ .43 $ .05 $ (.49) $ (.71)
 Average
 shares (A) 5,805,000 5,857,000 5,799,000 5,790,000
 (A) Earnings (loss) per share is computed on the average number of common shares outstanding during each period.
 (B) Includes, for the current year, an after tax LIFO credit of $235,000 and $12,000 or $.04 and $.00 per share for the three months and twelve months ended February 1, 1992 vs. $156,000 credit and $250,000 charge or $.03 credit and $.04 charge per share last year for the same periods.
 (C) The company changed its method of accounting for income taxes by adopting the Statement of Financial Accounting Standards No. 96. The cumulative effect of the change of $1,188,000 is a one-time credit to income.
 -0- 3/20/92
 /CONTACT: Edward R. Carlin of Oshman's Sporting Goods, 713-928-3171/
 (OSHM) CO: Oshman's Sporting Goods Inc. ST: Texas IN: REA SU: ERN


SH -- NY014 -- 0028 03/20/92 10:38 EST
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Date:Mar 20, 1992
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