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S&K FAMOUS BRANDS ANNOUNCES RECORD SALES AND EARNINGS FOR THE THIRD QUARTER OF FISCAL 1993

 RICHMOND, Va., Nov. 10 ~PRNewswire~ -- S&K Famous Brands, Inc. (NASDAQ: SKFB), a leading retailer of value-priced menswear, today reported record net income of $501,000, or $0.21 per share, for the third quarter ended Oct. 24, 1992. This represents a 31 percent increase over the net income of $388,000, or $0.16 per share, recorded in the comparable quarter of last year.
 Sales were a record $18,985,000 for the fiscal 1993 third quarter, an increase of 11 percent over the $17,044,000 for the same three months of fiscal 1992. Store-for-store sales were up 7 percent over the same prior year's quarter.
 For the nine months ended Oct. 24, 1992, S&K earned $1,729,000, or $0.73 per share, an increase of 18 percent, compared with net income of $1,475,000, or $0.62 per share in the year ago period. Sales for the first nine months reached a record $56,498,000 compared with $50,616,000 for the first nine months of last year.
 Stuart C. Siegel, chairman and chief executive officer, said, "We continue to be encouraged by our positive sales and earnings growth. The consumers' value orientation has led to our record sales and provides us with a strong position as we enter the all important holiday season."
 S&K has opened a total of seven stores so far in 1992 including an October opening in Freeport, Maine, and a November opening in Morrisville, N.C. By early December six more new stores are expected to open including two each in Georgia and Virginia as well as one each in Florida and North Carolina. The Company has also enhanced its operations by relocating four stores during the year to much improved sites in Nashville, Tenn.; Charlotte, N.C.; Birmingham, Ala.; and Harrisburg, Pa. "We will review further expansion plans over the coming months for spring 1993, we are ahead of schedule with five leases already signed," said Siegel.
 S&K Famous Brands, Inc. is a retailer of value-priced menswear, with 123 stores in 21 states. Since its founding in 1967, S&K has been an innovator in offering quality and service at affordable prices.
 S & K FAMOUS BRANDS, INC. (NASDAQ: SKFB)
 SUMMARY STATEMENTS OF INCOME
 (Unaudited)
 QUARTER ENDED NINE MONTHS ENDED
 OCTOBER 24, OCTOBER 26, OCTOBER 24, OCTOBER 26,
 ($000's) 1992 1991 1992 1991
 Net sales $18,985.2 $17,043.7 $56,498.1 $50,615.7
 Cost of sales 10,320.1 9,286.6 31,362.5 28,191.2
 Gross profit 8,665.1 7,757.1 25,135.6 22,424.5
 Other costs and expenses:
 Selling, general and
 administrative 7,373.7 6,603.4 21,095.6 18,627.7
 Interest 82.1 122.0 207.5 410.8
 Depreciation and
 amortization 346.8 330.0 998.4 931.7
 Other, net 39.4 35.4 (5.3) 30.3
 Income before income
 taxes 823.1 666.3 2,839.4 2,424.0
 Provision for taxes 321.7 278.5 1,110.2 948.7
 Net income $ 501.4 $ 387.8 $ 1,729.2 $ 1,475.3
 Net income per common
 share $ .21 $ .16 $ .73 $ .62
 Weighted average common
 shares outstanding 2,381,217 2,362,802 2,376,900 2,362,802
 Effective income tax
 rate (in percent) 39.1 41.8 39.1 39.1
 CONDENSED BALANCE SHEETS
 (Unaudited)
 OCTOBER 24, OCTOBER 26,
 1992 1991
 Assets:
 Current assets $38,782.8 $31,685.8
 Property and equipment, net 11,289.1 11,821.5
 Other assets 1,233.8 857.0
 Total $51,305.7 $44,364.3
 Liabilities and Shareholder's Equity:
 Current liabilities $13,915.0 $10,625.7
 Industrial Development Revenue Bond 2,925.0 3,105.0
 Long-term debt 5,391.7 4,453.7
 Deferred income taxes 1,045.4 1,336.4
 Shareholders' equity 28,028.6 24,843.5
 Total $51,305.7 $44,364.3
 -0- 11~18~92
 ~CONTACT: Lynn Morgen or Amy Ludwig of Morgen-Walke Associates, 212-986-5900, for S&K~
 (SKFB)


CO: S&K Famous Brands, Inc. ST: Virginia IN: TEX SU: ERN

KD -- NY056 -- 2370 11~18~92 12:53 EST
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Date:Nov 18, 1992
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