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P.A. BERGNER & CO. REPORTS THIRD QUARTER OPERATING PROFIT OF $14.7 MILLION

 MILWAUKEE, Nov. 19 ~PRNewswire~ -- P.A. Bergner & Co. Holding Company today announced third quarter operating profits of $14.7 million compared to $2.2 million for the third quarter of 1991. This represents an operating profit of nearly seven times last year's results. Total sales were $277.2 million for the quarter ended Oct. 31, 1992 with a comparable store increase of 2.3 percent (see accompanying table.)
 On a year-to-date basis, for the first nine months of the fiscal year, operating profit was $33.8 million, which was $4.2 million ahead of projection and 34.1 percent ahead of last year. Year-to-date sales were $776.3 million, which were slightly ahead of projections with comparable store sales 0.3 percent behind last year.
 Stanton J. Bluestone, president of P.A. Bergner & Co., commented: "We couldn't be more pleased with our nine months results as we enter into the holiday season. We have been ahead of our projections for every quarter since we have been in bankruptcy and, in fact, we have exceeded operating profit projections in 14 out of 15 months since we filed in August 1991. We continue to maintain a tight control on our business, having reduced year-to-date operating expenses by $15 million from last year. In addition, we have kept inventories tight but flexible enough to take advantage of an upturn in spending, as the consumer regains confidence in the economy.
 "Although sales gains in our industry have been very difficult to attain due to an uncertain and challenging economic environment, we are positioned very well for the critical fourth quarter with a more focused merchandising, promotional and customer service program to achieve our sales and operating profits for the remainder of 1992."
 P.A. Bergner & Co. owns and operates 68 stores in Wisconsin, Illinois, Indiana and Minnesota under the Boston Store, Carson Pirie Scott and Bergner's store names.
 P.A. BERGNER & CO. HOLDING COMPANY
 Financial Highlights
 Fiscal Quarter Ended Oct. 31, 1992
 (Dollars in millions)
 Actual Plan Last Year Pct. of Change
 vs. 1991
 THIRD QUARTER
 Total sales $277.2 $285.9 $275.0 0.7
 Memo: Comparable stores 2.3
 Operating profit $ 14.7 $ 13.6 $ 2.2 568.2
 (EBITDA) (A)
 YEAR-TO-DATE
 Total sales $776.3 $773.1 $797.0 (2.6)
 Memo: Comparable stores (0.3)
 Operating profit $ 33.8 $ 29.6 $ 25.2 34.1
 (EBITDA) (A)
 (A) -- Earnings before interest, tax, depreciation, amortization and Chapter 11~reorganization costs.
 -0- 11~19~92
 ~CONTACT: Edward P. Carroll Jr. of P.A. Bergner & Co., 414-347-5340; or Jerry Seeman of Burson-Marsteller, 212-614-5135, for P.A. Bergner & Co.~


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

GK-AH -- NY104 -- 3098 11~19~92 16:33 EST
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Publication:PR Newswire
Date:Nov 19, 1992
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