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VALUE MERCHANTS ANNOUNCES MARCH SALES RESULTS

 MILWAUKEE, April 8 /PRNewswire/ -- Value Merchants, Inc. (NYSE: VMI), a Milwaukee-based national retailer and wholesaler of close-out merchandise, reported total sales for the five and nine week periods ended April 3, 1993, respectively increased 37.4 percent and 42.8 percent over sales for the same period a year ago. Total comparable store sales decreased 18.1 percent for the five-week period and 17.3 percent for the nine-week period. At the end of the nine week period, the operations of Value Merchants, Inc. included 415 Everything's $1.00 close-out variety stores and 124 Toy Liquidators close-out toy stores. 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.
 According to Steven J. Appel, president and chief executive officer, "The decline in comparable stores sales in March for Everything's $1.00 and Toy Liquidators reflects the impact of bad weather conditions during the first half of the month, continued cautious consumer spending attitudes and for Everything's $1.00 an imbalance in our merchandise assortment. We expect sales to continue to be soft until this imbalance is resolved."
 Appel also stated, "The company is continuing its efforts to finalize a two-year working capital line. If accomplished, this would add substantial stability to our operations and our merchandising strategy."
 The following table summarizes the company's sales performance for the five and nine week periods ended April 3, 1993:
 Net Sales - Total Operations
 (In Millions)
 Five Weeks Ended
 Apr. 3, 1993 Apr. 4, 1992 Percent Increase
 $29.6 $21.7 37.4
 Nine Weeks Ended
 Apr. 3, 1993 Apr. 4, 1992 Percent Increase
 $50.8 $35.6 42.8
 Net Sales - Retail Operations
 Percentage Increase from Prior Year
 Everything's A $1.00
 No. of Stores Pct. Increase
 1993 1992 March 9 Weeks
 Comparable Stores 203 203 (20.5) (18.1)
 Total Stores 415 229 53.1 61.1
 Toy Liquidators
 No. of Stores Pct. Increase
 1993 1992 March 9 Weeks
 Comparable Stores 96 96 (9.2) (10.4)
 Total Stores 124 113 2.2 1.8
 NOTE: Comparable stores are all stores opened prior to February 1992.
 -0- 4/8/93
 /CONTACT: Gary I. Kastel, director of communications, Value Merchants, Inc., 414-274-2976/
 (VMI)


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

BM -- CL007 -- 4117 04/08/93 09:43 EDT
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Date:Apr 8, 1993
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