
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: WEDNESDAY, March 20, 1991                   TAG: 9103200111
SECTION: BUSINESS                    PAGE: A-9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

HECHINGER REPORTS 32% EARNINGS DROP

Hechinger Co. reported a 32 percent drop in net earnings for its fiscal year that ended Feb. 3, including a severe dip in earnings in the fourth quarter. Net earnings for the year were $23.3 million, 65 cents per share, down from $34.2 million or 95 cents per share.

Sales for the year rose 13 percent over fiscal 1989, to $1.39 billion from $1.23 billion, partly due to an increase in the number of stores. When comparing sales for the same number of stores in both years, annual sales were down 1 percent and fourth quarter sales were off 11 percent.

The Landover, Md., home-improvement company, which operates a store in Roanoke, said fourth-quarter sales for all stores were $308.9 million, down 1 percent. Net loss for the quarter was $849,000 compared to net earnings of $8.5 million in last year's fourth quarter. - Associated Press

by CNB