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PET FOOD WAREHOUSE REPORTS SALES GROWTH

 ST. LOUIS PARK, Minn., Nov. 22 /PRNewswire/ -- Pet Food Warehouse, Inc. (PFDW) announced today that sales for the third quarter ended Sept. 30, 1993, were $4,659,000, an increase of 66.9 percent over last year. Sales for the first nine months ended Sept. 30, 1993, increased 54.9 percent to $12,287,000. Comparable store sales increased 24.9 percent for the third quarter and 22.8 percent for the nine month period ended Sept. 30, 1993.
 "We attribute this great sales growth to an increase in customer awareness, improved customer service, effective merchandising and a new image awareness marketing campaign," said Patrick A. Labriola, president of Pet Food Warehouse, Inc.
 The company opened two new stores in the first nine months of 1993. On Nov. 19, 1993, the company celebrated the grand opening of its eighth warehouse superstore in Brooklyn Park, Minn.
 Net loss for the quarter ended Sept. 30, 1993, was $241,000 compared to net income of $29,000 last year. Net loss for the nine months ended Sept. 30, 1993, was $595,000 compared to a net income of $51,000 last year.
 Operating expenses for the three and nine months ended Sept. 30, 1993 included charges of $154,000 and $507,000 respectively, for recruitment, relocation, consultation and severance expenses related to the enhancement of the management team and redesign and upgrade of its warehouse superstore format.
 Recently, the redemption of all outstanding public Warrants was successfully completed. The company received approximately $2.9 million in proceeds which will be used to fund expansion plans and to provide working capital. Effective Nov. 23, 1993, the company will effect a 1 for 3.5 reverse split of its common stock in order to make the stock eligible for listing on the NASDAQ Small-Cap Market System. These actions position Pet Food Warehouse, Inc., to continue its plans for expansion in the future.
 Pet Food Warehouse, Inc., a Minnesota-based company, currently operates seven warehouse superstores located in the Minneapolis/St. Paul Metro Area and one store in St. Cloud, Minn.
 PET FOOD WAREHOUSE, INC.
 Summary of Operations
 (Unaudited)
 Three Months Ended Nine months ended
 9/30/93 9/30/92 9/30/93 9/30/92
 Sales $4,659,000 $2,791,000 $12,287,000 $7,933,000
 Net income (loss) $(241,000) $29,000 $(595,000) $51,000
 Earnings per share $(.02) -- $(.04) $.01
 Average shares
 outstanding 14,041,000 9,857,000 13,971,000 7,557,000
 -0- 11/22/93
 /CONTACT: Sharon Link or Ralph Schwankl of Pet Food Warehouse, 612-542-0123/ CO: Pet Food Warehouse, Inc. ST: Minnesota IN: FOD SU: ERN


CP-DB -- MN021 -- 6971 11/22/93 16:42 EST
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Publication:PR Newswire
Date:Nov 22, 1993
Words:450
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