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SPECIALTY RETAIL GROUP ANNOUNCES BUILDING BLOCKS' SALES RESULTS

 GREENWICH, Conn., Jan. 13 /PRNewswire/ -- Specialty Retail Group, Inc. (NASDAQ: SRGC) today announced the sales results for its Building Blocks, Inc. subsidiary, a retailer of specialty and developmental toys, for the recently completed holiday season.
 Building Blocks' net sales for the quarter ended Jan. 2, 1994 were $1,500,853 compared to $560,691 for the prior year, representing a total increase of 167.7%. Comparable store sales for the quarter rose 9%.
 Net sales for the five weeks of December increased 170.4% versus the prior year. Comparable store sales for the five weeks of December rose 11.8%.
 J. Thomas Lynn, the president of the Building Blocks subsidiary, said, "We are pleased to have achieved these increases in sales both in terms of total volume and in comparable store sales. We feel that these figures support our belief that the specialty toy niche is an attractive market segment and the Building Blocks format is poised to become a significant player in that segment."
 Additionally, Specialty Retail Group's Chairman and CEO Glenn S. Meyers stated that, "SRG was very pleased with Building Blocks' performance and the expansion opportunities the concept represents." The company plans to open up to an additional ten new Building Blocks units in the next 12 months.
 Mr. Meyers also noted that, "We strongly believe there are significant growth opportunities in the specialty retailing area and are exploring additional acquisitions and new concepts."
 -0- 1/13/94
 /CONTACT: Russ S. Fein of Specialty Retail Group, 203-622-7670, or FAX, 203-622-7666/
 (SRGC)


CO: Specialty Retail Group, Inc.; Building Blocks, Inc. ST: Connecticut IN: REA SU: SLS

LG-SH -- NY027 -- 1735 01/13/94 09:56 EST
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Publication:PR Newswire
Date:Jan 13, 1994
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