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STUARTS EXPECTS TO REPORT TWO CONSECUTIVE QUARTERS OF PROFIT; THE THIRD QUARTER ENDED NOV. 2, 1991 WILL REFLECT A PROFIT OF $395,000

     STUARTS EXPECTS TO REPORT TWO CONSECUTIVE QUARTERS OF PROFIT; THE THIRD QUARTER ENDED NOV. 2, 1991 WILL REFLECT A PROFIT OF $395,000
    FRANKLIN, Mass., Nov. 12 /PRNewswire/ -- Stuarts Department Stores, Inc. (NASDAQ: STUSQ) announced today that the company anticipates reporting a profit for the third quarter ending Nov. 2, 1991.  The company believes that the profit for the third quarter will approximate $395,000 or 9 cents per share which includes operating income of $161,000 and interest income of $234,000, vs. a loss of $296,000 or 7 cents per share for the quarter ended Nov. 3, 1990.  Final results will not be available until December.
    Joseph Ettore, president, commented:  "Third quarter results were significantly impacted by a very strong performance in the October period.  This is very encouraging following our second quarter 1991 performance which reflected a profit of $370,000 or 9 cents per share. Our performance to date is on target in achieveing our profit projections for the fiscal year ended January 1992."
    On Dec. 7, 1990, the company and its subsidiary filed voluntary petitions for reorganization under Chpater 11 of the United States Bankruptcy Code.  The company plans to continue its retail operations and is presently working with the Creditors Committee appointed in connection with the reorganization proceeding to formulate a plan of reorganization as soon as possible.
    Stuarts Department Stores, Inc. operates 20 self-service discount department stores located in Massachusetts, New Hampshire, Rhode Island, Vermont and Maine, 19 under the name "Stuarts" and one under the name "Harry's".  The company's stores sell a wide variety of general merchandise selected to satisfy the clothing, home, recreational and convenience needs of the blue collar and middle income family.
    -0-                   11/12/91
    /CONTACT: Antone F. Moreira of Stuarts Department Stores, 508-520-4540/
    (STUSQ) CO:  Stuarts Department Stores, Inc. ST:  Massachusetts IN:  REA SU: DD-SD -- NE015 -- 3665 11/12/91 17:33 EST
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Publication:PR Newswire
Date:Nov 12, 1991
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