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PET FOOD WAREHOUSE, INC., REPORTS CONTINUED STRONG SALES GROWTH

 ST. LOUIS PARK, Minn., Sept. 9 /PRNewswire/ -- Pet Food Warehouse, Inc. (NASD: PFDW), formerly doing business as Acquerre II Corporation, announced today that sales for the quarter ended June 30, 1993, were $3.9 million, an increase of 49.7 percent over the comparable period last year. Sales for the six months ended June 30, 1993, increased 48.3 percent to $7.6 million.
 Net loss for the quarter ended June 30, 1993, was $359,000 compared to net income of $96,000 last year. Net loss for the six months ended June 30, 1993, was $354,000 compared to net income of $22,000 last year. Operating expenses for the three and six months ended June 30, 1993, include charges of $303,000 and $353,000, respectively, for recruitment, relocation, consultation and severance costs related to changes in the management team and design of its warehouse superstore prototype.
 Patrick A. Labriola, president, said: "During the last few months, Pet Food Warehouse, Inc., completed the enhancement of its management team. These changes position the company as a formidable competitor in the national retail pet supply market. Although short term profits are lower, we are confident that these actions will allow us to continue our aggressive growth and maximize our long term results."
 Pet Food Warehouse, Inc., also announced today that its Registration Statement filed with the Securities and Exchange Commission has become effective and it is distributing notification to its public warrantholders of their right to exercise their warrants for a 60 day period ending Nov. 7, 1993. Each of the 3,000,000 warrants outstanding gives the warrantholder the right to purchase an additional share of common stock of the company at $1.00 per share.
 Pet Food Warehouse, Inc., currently operates seven retail pet food, supply and service warehouse superstores in Minnesota, including two new stores which opened during 1993 in Minnetonka and Eden Prairie, Minn. An eighth store is scheduled to open in November 1993 in Brooklyn Park, Minn.
 PET FOOD WAREHOUSE, INC.
 Summary of Operations
 (Unaudited)
 Three Months Ended Six Months Ended
 6/30/93 6/30/92 6/30/93 6/30/92
 Sales $3,908,000 $2,611,000 $7,628,000 $5,143,000
 Net income (loss) (359,000) 96,000 (354,000) 22,000
 Earnings per share $(.03) $.01 $(.03) $.01
 Average shares
 outstanding 14,009,000 7,251,000 13,936,000 4,125,000
 -0- 9/9/93
 /CONTACT: Patrick A. Labriola, president of Pet Food Warehouse, 612-542-0123/
 (PFDW)


CO: Pet Food Warehouse, Inc. ST: Minnesota IN: REA SU: ERN

DS-DB -- MN015 -- 0554 09/09/93 18:16 EDT
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Publication:PR Newswire
Date:Sep 9, 1993
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