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OSHMAN'S SPORTING GOODS EXPECTS RENEWED GROWTH AND PROFITS IN 1993

 HOUSTON, March 22 /PRNewswire/ -- Oshman's Sporting Goods, Inc., (OTC: OSHM) announced today that results for the fourth quarter and fiscal year 1992 improved considerably from last year.
 Earnings for the quarter ended Jan. 30, 1993 were $3,182,000 compared to $2,501,000 last year and results for the year improved to a loss of $200,000 compared to a loss of $2,850,000 in 1991. Earnings (loss) per share for the fourth quarter and year were $.54 and ($.03) respectively, compared to $.43 and ($.49) in the same periods last year. This is the fifth consecutive quarter in which results, before cumulative effect of an accounting change, have exceeded those of the previous year.
 Sales for the year reached $313.3 million, reflecting an increase of 5.2 percent while same store sales increased 1.7 percent. After closing 18 traditional sized stores and opening five stores, including three SuperSports USA megastores, Oshman's was operating 170 stores at the end of the year compared to 183 at the end of 1991.
 Alvin N. Lubetkin, CEO, stated that the company was pleased with the improvements and that he was confident that Oshman's would earn a profit in 1993. "Our SuperSports USA megastores are recording outstanding sales and excellent profitability. The transition of Oshman's to the premier sporting goods super store operator will bring renewed growth and profitability to Oshman's." Lubetkin added, "although we will be concentrating on opening SuperSports USA megastores in the future, there still exist significant opportunities to improve performance in our core group of traditional stores."
 Fourth quarter and year ended Jan. 30, 1993 results follows:
 OSHMAN'S SPORTING GOODS, INC.
 Consolidated Statements of Operations
 Three months ended 12 months ended
 1/30/93 2/1/92 1/30/93 2/1/92
 Net sales $101,086,000 $95,727,000 $313,253,000 $297,829,000
 Earnings (loss)
 before income
 taxes $ 5,166,000 $ 3,682,000 $ (333,000) $(6,302,000)
 Income taxes
 (benefits) 1,984,000 1,181,000 (133,000) (2,264,000)
 Earnings (loss) before
 cumulative effect of a
 change in accounting
 principle 3,182,000 2,501,000 (200,000) (4,038,000)
 Cumulative effect
 on prior years
 (to Feb. 2, 1991) of
 a change in accounting
 for income taxes (C) -- -- -- 1,188,000
 Net earnings
 (loss) (B) $ 3,182,000 $ 2,501,000 $ (200,000) $(2,850,000)
 Earnings (loss) per
 share (A) (B) $ .54 $ .43 $ (.03) $ (.49)
 Average shares (A) 5,914,000 5,805,000 5,804,000 5,799,000
 (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 $670,000 and $479,000 or $.11 and $.08 per share for the three months and 12 months ended Jan. 30, 1993 vs. credits of $235,000 and $12,000 or $.04 and $.00 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- 3/22/93
 /CONTACT: Edward R. Carlin of Oshman's Sporting Goods, 713-967-8259/
 (OSHM)


CO: Oshman's Sporting Goods, Inc. ST: Texas IN: REA SU: ERN

WB -- NY045 -- 8194 03/22/93 11:33 EST
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Publication:PR Newswire
Date:Mar 22, 1993
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