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

DATE: FRIDAY, March 22, 1991                   TAG: 9103220140
SECTION: BUSINESS                    PAGE: A-9   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

BRENDLE'S INCOME DOWN 64 PERCENT

Brendle's Inc., the Elkin, N.C., discount retailer with stores at Roanoke's Tanglewood and Valley View malls, has reported net income of $1.2 million, or 15 cents a share, for its fiscal year ended Feb. 2, down 64 percent from $3.4 million, or 43 cents a share, a year earlier. The 1991 revenue was up 12 percent from a year ago, $311 million against $277.4 million in fiscal 1990. The higher sales reflected the opening of 14 new stores during the year.

Douglas D. Brendle, chairman and chief executive officer, said the past year has been "one of the most difficult economic periods in the history of the company. We saw the effects of a total downturn in the economy coupled with troop deployments away from communities where Brendle's has a strong presence, and this resulted in decreased earnings due to soft sales in the last quarter," said Brendle.

He said the company was able to remain profitable during the period because of its expansion of stores, and also said the company will "continue to streamline operations." The company announced hiring and salary freezes earlier this month.

For its fourth quarter, Brendle's reported revenues increased 7.1 percent to $141.3 million, compared with revenues of $132 million in the last quarter of fiscal 1990. For the three months net income was $8.5 million, or $1.05 per share, down 3.4 percent from $8.8 million, or $1.10 per share.

- Staff report

by CNB