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REEDS JEWELERS ANNOUNCES RECORD SALES FOR DECEMBER 1992

 WILMINGTON, N.C., Jan. 4 /PRNewswire/ -- Reeds Jewelers, Inc. (NASDAQ-NMS: REED) today announced that sales in December 1992 were a record $15.2 million. Comparable store sales were up 16.7 percent over the same month of the previous year.
 Alan M. Zimmer, President & CEO, said: "We had outstanding sales in December. We generally do 24 percent to 28 percent of our annual sales in the month of December and our annual profits are more highly dependent upon the sales success of December than any other month."
 Through the third quarter ended Nov. 30, 1992, Reeds had sales of $36,257,000, up 6 percent over the same nine months last year, and had earned $0.05 per share compared to a loss of $0.11 per share for the same nine months a year earlier. Alan Zimmer added, "We are very encouraged by the strong same store sales and total sales increase in December, which is our most profitable month of the year."
 Reeds Jewelers is a specialty retailer presently operating 67 stores primarily in enclosed regional shopping malls in 12 states principally in the Southeast. The Company specializes in the sale of fine jewelry, and emphasizes, "Quality, Value, and Service."
 -0- 1/4/93
 /CONTACT: Alan M. Zimmer, President & CEO, 919-350-3111, or James R. Rouse, Treasurer & CFO, 919-350-3116, both of Reeds Jewelers, Inc./
 (REED)


CO: Reeds Jewelers, Inc. ST: North Carolina IN: REA SU:

SB -- CH005 -- 1383 01/04/93 15:07 EST
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Publication:PR Newswire
Date:Jan 4, 1993
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