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P.A. BERGNER & CO.'S OPERATING PROFITS RISE 10 PERCENT IN FIRST QUARTER

 MILWAUKEE, May 17 /PRNewswire/ -- P.A. Bergner & Co.'s operating earnings rose 10 percent in the first quarter of fiscal 1993 as comparable store sales increased 0.7 percent, the company announced today.
 Bergner's EBITDA (earnings before interest, taxes, depreciation, amortization and Chapter 11 reorganization costs) for the three months ended May 1, 1993, climbed to $10.6 million from $9.6 million in the same period of 1992.
 Total sales for the first quarter slipped 2.9 percent to $251.0 million from $258.4 million the prior year. However, the first quarter 1993 results included sales from 62 department stores, while the 1992 first period included sales from 68 stores. The company closed six stores in January 1993.
 Stanton J. Bluestone, president of P.A. Bergner & Co., noted that unseasonable weather patterns, a slowdown in the economy and a drop in consumer confidence levels had negatively affected retail sales throughout the country during the first quarter.
 Bluestone said, "We were slightly off our plan, but were able to keep expenses in line and are pleased that profits and same-store sales increased over last year."
 Looking to the future, Bluestone added that with more seasonable weather in early May, sales of early summer merchandise have improved.
 "We're confident that we have the right merchandise assortment and overall direction," Bluestone said. "The general economic trend remains uncertain and customers' focus right now is on value. We intend to continue to aggressively pursue those businesses where there is strong customer reaction, while maintaining a tight control on inventory and expenses."
 P.A. Bergner & Co. operates 62 department stores in Illinois, Indiana, Wisconsin and Minnesota, with annual sales that exceed $1.1 billion. The company has been operating under Chapter 11 protection since August 1991.
 -0- 5/17/93
 /CONTACT: Edward P. Carroll Jr., executive vice president, sales promotion & marketing, P.A. Bergner & Co., 414-347-5340/


CO: P.A. Bergner & Co. ST: Wisconsin IN: REA SU: ERN

BM -- CL015 -- 9263 05/17/93 13:20 EDT
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Publication:PR Newswire
Date:May 17, 1993
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