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VALUE MERCHANTS, INC. REPORTS JUNE SALES RESULTS

 MILWAUKEE, July 8 /PRNewswire/ -- Sales of Value Merchants, Inc. (NYSE: VMI) for the five weeks ended July 3, 1993, for its retail and wholesale operations increased 7.5 percent to $26.7 million from $24.9 million a year ago. Year-to-date revenues through the first 22 weeks of the fiscal year were 24.2 percent ahead of a year ago, totaling $119.8 million compared with $96.4 million a year ago. Total comparable store sales (stores opened prior to February 1992) decreased 21 percent for the five-week period and 19.3 percent for the 22-week period. The decline in comparable store sales for Everything's $1.00 and Toy Liquidators reflects an imbalance in the merchandise assortment resulting from working capital constraints. Additionally, Toy Liquidators' higher sales a year ago included results of a national sales promotion program.
 Value Merchants, Inc., a value retailer of close-out merchandise, operated 540 retail stores at the close of the five-week period including 423 Everything's $1.00 variety retail stores, compared with 300 a year ago, and 117 Toy Liquidators toy stores, compared with 119 a year ago. Additionally, the company's wholesale operation, the nation's largest wholesaler of close-out toys, is a supplier of variety close-out merchandise to retailers throughout the country.
 The following table summarizes the company's sales performance:
 Net Sales - Total Operations
 (In Millions)
 Five Weeks Ended
 July 3, 1993 July 4, 1992 Percent Increase
 $26.7 $24.9 7.5
 Twenty-two Weeks Ended
 July 3, 1993 July 4, 1992 Percent Increase
 $119.8 $96.4 24.2
 Net Sales - Retail Operations
 Percentage Increase from Prior Year
 Everything's $1.00
 No. of Stores Pct. Increase
 1993 1992 June 22 Weeks
 Comparable Stores 203 203 (24.9) (21.3)
 Total Stores 423 300 8.9 35.4
 Toy Liquidators
 No. of Stores Pct. Increase
 1993 1992 June 22 Weeks
 Comparable Stores 91 91 (10.4) (12.7)
 Total Stores 117 119 (4.2) (4.4)
 NOTE: Comparable stores are all stores opened prior to February 1992.
 -0- 7/8/93
 /CONTACT: Gary I. Kastel, director of communications for Value Merchants, Inc., 414-274-2976/
 (VMI)


CO: Value Merchants, Inc. ST: Wisconsin IN: REA SU:

AR -- CL019 -- 9663 07/08/93 16:28 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
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