THE VIRGINIAN-PILOT
Copyright (c) 1995, Landmark Communications, Inc.
DATE: Friday, February 24, 1995 TAG: 9502240629
SECTION: BUSINESS PAGE: D2 EDITION: FINAL
TYPE: Daily Digest
LENGTH: Short : 24 lines
Catalog showroom retailer Best Products Co. Inc. posted a profit last year - its first since 1988. The Richmond-based chain emerged from Chapter 11 bankruptcy protection in June. The company reported earnings of $23.3 million in the fiscal year ended Jan. 28, compared with a loss of $20.6 million the previous year. The 1994 results are reported as if the retailer was out of bankruptcy when its fiscal year began last February. Overall sales increased 4.2 percent for the year to $1.52 billion. Best earned $29.8 million in the fourth quarter, down from a $34.4 million profit in the same quarter a year earlier. It had quarterly sales of $602.4 million compared with $576.6 million in the year-earlier period. (AP) by CNB