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S&K FAMOUS BRANDS EARNS A RECORD $612,000, OR $0.26 PER SHARE, FOR SECOND QUARTER OF FISCAL 1993

 S&K FAMOUS BRANDS EARNS A RECORD $612,000, OR $0.26 PER SHARE,
 FOR SECOND QUARTER OF FISCAL 1993
 RICHMOND, Va., Aug. 19 /PRNewswire/ -- S&K Famous Brands, Inc. (NASDAQ: SKFB), a leading retailer of value-priced menswear, today reported record net income of $612,000, or $0.26 per share, for the second quarter ended July 25, 1992. This represents a 13 percent increase over the net income of $543,000, or $0.23 per share, recorded in the comparable quarter of last year.
 Sales were a record $18,721,000 for the fiscal 1993 second quarter, an increase of 10 percent over the $17,006,000 for the same three months of fiscal 1992. Comparable store sales declined 4 percent.
 For the six months ended July 25, 1992, S&K earned $1,228,000, or $0.52 per share, an increase of 13 percent, compared with net income of $1,087,000, or $0.46 per share in the year ago period.
 For the six months ended July 25, 1992, sales increased to $37,513,000 versus $33,572,000 for the prior year.
 Stuart C. Siegel, chairman and chief executive officer, said, "We are pleased that we reported record sales and earnings despite the difficult economy and retail sales environment. We continue to attain profitable growth by adding a number of stores in existing markets and controlling our expenses. The consumers' value orientation should have a significant positive benefit to us in the future."
 During the second quarter S&K opened three new stores, in Eddyville, Kentucky; Hot Springs, Arkansas; and Orlando, Florida, for a total of five stores in the first half of this year. The company plans to open a total of approximately 18 stores this year.
 S&K Famous Brands, Inc. is a retailer of value-priced menswear, with 122 stores in 21 states. Since its founding in Richmond, Va., in 1967, S&K has been an innovator in offering quality and service at affordable prices.
 S & K FAMOUS BRANDS, INC.
 STATEMENTS OF INCOME
 (Unaudited) THREE MONTHS ENDED SIX MONTHS ENDED
 JULY 25, JULY 27, JULY 25, JULY 27,
 (000's) 1992 1991 1992 1991
 Net sales $18,721.0 17,005.5 37,512.9 33,572.0
 Cost of sales 10,385.7 9,690.7 21,042.4 18,904.6
 Gross profit 8,335.3 7,314.8 16,470.5 14,667.4
 Other costs and expenses:
 Selling, general and
 administrative 6,944.3 5,989.2 13,721.9 12,024.3
 Interest 70.0 127.0 125.4 288.7
 Depreciation and
 amortization 329.3 300.2 651.5 601.7
 Other, net (13.6) 20.0 (44.7) (5.0)
 Income before
 income taxes 1,005.3 878.4 2,016.4 1,757.7
 Provision for taxes 393.3 334.9 788.5 670.2
 Net income $ 612.0 $ 543.5 $ 1,227.9 $ 1,087.5
 Net income
 per common share $ .26 $ .23 $ .52 $ .46
 Weighted average common
 shares outstanding 2,381,217 2,362,802 2,374,741 2,362,802
 Effective
 income tax rate 39.1 pct. 38.1 pct. 39.1 pct. 38.1 pct.
 CONDENSED BALANCE SHEETS
 (unaudited) JULY 25, JULY 27,
 1992 1991
 Assets:
 Current assets $30,932.7 $29,251.3
 Property and equipment, net 11,384.1 10,859.5
 Other assets 1,173.5 815.6
 Total $43,490.3 $40,926.4
 Liabilities and Shareholder's Equity:
 Current liabilities $ 8,224.7 $ 7,223.6
 Industrial Development Revenue Bond 2,970.0 3,150.0
 Long-term debt 3,697.5 4,802.0
 Deferred income taxes 1,070.9 1,295.2
 Shareholders' equity 27,527.2 24,455.6
 Total $43,490.3 $40,926.4
 -0- 8/19/92
 /CONTACT: Lynn Morgen or Amy Ludwig of Morgen-Walke Associates,
 212-986-5900, for S&K Famous Brands/
 (SKFB)
 CO: S&K Famous Brands, Inc.
 ST: Virginia
 IN: TEX
 SU: ERN


SB -- NY051 -- 1415 08/19/92 14:53 EDT
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Date:Aug 19, 1992
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