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

DATE: WEDNESDAY, July 20, 1994                   TAG: 9407200077
SECTION: BUSINESS                    PAGE: B-7   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Medium

EARNINGS

Signet Banking Corp. said Tuesday that it earned $50.4 million or 88 cents a share in the second quarter, an increase of 25 percent from $40.4 million or 71 cents a share a year earlier. For the six months, Richmond-based Signet had income of $103.5 million or $1.81 a share, up 32 percent from last year's $78.7 million or $1.39 a share.

Chairman Robert M. Freeman said the earnings benefited from strong growth in the credit card portfolio, which surpassed $6.5 billion in June. Continuing improvement in credit quality was also a factor, he said.

Loans dropped 2.6 percent from $6.5 billion a year ago to $6.3 billion, while deposits remained flat at $7.7 billion. Signet had assets of $10.8 billion.

Blockbuster Entertainment

Blockbuster Entertainment Corp., Fort Lauderdale, Fla., parent of video rental stores in Western Virginia, reported second-quarter net income of $63 million, or 25 cents per share, up from $48 million, or 22 cents per share, a year earlier. Revenue grew to $676.3 million from year-earlier $492.5 million. For the first six months, net income was $135.6 million, or 53 cents per share, compared to $92.7 million, or 44 cents, and revenues reached $1.37 billion compared with $925.9 million.

VF Corp.

VF Corp., Wyomissing, Pa., parent of Bassett-Walker Inc. of Martinsville, reported second-quarter net income of $58.9 million, or 90 cents per share, compared with $55.7 million, or 85 cents per share a year earlier. Sales rose to $1.19 billion from $1.05 billion. For the first six months, net income rose to $111.8 million, or $1.71 per share, from $108.5 million, or $1.68 share for the 1993 period. Sales in the first half were $2.31 billion, up from $2.07 billion.

Kroger

Kroger Co., Cincinnati grocer operating a regional distribution and marketing offices and supermarkets in the Roanoke Valley, reported net earnings of $67.3 million, or 55 cents per share, in its second quarter ended June 18. That compares with $27.5 million, or 25 cents per share, a year earlier. Sales rose to $5.39 billion from $5.33 billion. For the first half, earnings were $114.7 million, or $1.12 per share, compared with a net loss of $111.3 million, or 57 cents per share. Sales were $10.72 billion, up from $10.50 billion a year ago.