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WAREHOUSE CLUB, INC. REPORTS RESULTSFOR THE FIRST FISCAL QUARTER 1993

 CHICAGO, Ill., Jan. 26 /PRNewswire/ -- Warehouse Club, Inc. (NASDAQ-NMS: WCLB), the Chicago headquartered cash-and-carry merchandiser reported financial results for its first quarter ended Jan. 2, 1993.
 The company reported a profit for the first quarter of $862,122, or $0.03 per share as compared to a profit of $836,818, or $0.06 per share in the first quarter of fiscal 1992. Net sales for the quarter of $62.4 million increased $143,000, or 0.02 percent versus the prior year's first quarter. The sales increase represents the first comparable quarterly sales increase for the company since the completion of the Rights Offering on Nov. 30, 1991.
 On Jan. 26, the company will hold its second annual vendors' dinner with 600 attendees expected. The company will introduce Everett L. Buckardt, its recently named chairman, CEO/president, update the vendor community on 1992 financial results and fiscal 1993 plans, and present vendor of the year awards.
 Warehouse Club, Inc. operates a chain of ten wholesale cash-and- carry members only warehouse stores, selling high-quality merchandise at wholesale or near wholesale prices. The company's customers are comprised of businesses that purchase items for commercial use or resale and selected groups of individual retail customers. The company's objective is to achieve operating efficiencies that permit the sale of products at prices significantly below those members would have to pay at traditional wholesale distributors, discount retailers and supermarkets.
 WAREHOUSE CLUB, INC.
 Key Financial And Operating Data
 (In thousands except per share data - Unaudited)


2,293
 Cost of goods sold 56,150 56,143
 Gross margin 6,286 6,150
 Fee, membership and other income 1,898 1,928
 Total 8,184 8,078
 Warehouse operating, general
 and administrative expenses 7,171 6,975
 Interest expense 133 239
 Total 7,304 7,214
 Net income before tax and extra-
 ordinary item 880 864
 Provision for income taxes 221 202
 Net income before extraordinary
 item 659 662
 Extraordinary item, ITB of prior
 years' NOL carryforward 203 175
 Net income $ 862 $ 837
 Net Income Per Common
 Share (Primary and Fully Diluted)
 -- Before extraordinary item $ 0.02 $ 0.05
 -- Extraordinary item 0.01 0.01
 -- Net income $ 0.03 $ 0.06
 Number of shares used in
 computation 28,347 13,625
 Balance Sheet Data:
 Working capital (net) $ 3,916 $ 3,529
 Total assets $51,677 $52,412
 Long-term debt, less
 current portion $ 8,951 $ 9,209
 Stockholders' equity $16,698 $16,634
 -0- 1/26/93
 /CONTACT: Steven J. Zabel of Warehouse Club, 708-679-6800/
 (WCLB)


CO: Warehouse Club, Inc. ST: Illinois IN: REA SU: ERN

SM -- NY116 -- 6369 01/26/93 17:40 EST
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Publication:PR Newswire
Date:Jan 26, 1993
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