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Microcap & Penny Stocks : GROS- Grossman's: A $.70 value play
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To: Andrew who wrote ()8/22/1997 5:12:00 PM
From: RACm   of 174
 
Earnings report reveals Grossman1s continues to founder

Canton, Mass. - Aug. 22, 1997 - The numbers aren't getting any better
for the struggling Grossman's. Sales from ongoing operations plunged 37
percent to $55.7 million in the second quarter 1997. Comp-store sales
for the same period dropped 38 percent, while the company incurred a net
loss of $7.6 million.

For the six months ended June 1997, Grossman's suffered a net loss of
$19.6 million on sales of $105.1 million. Total revenues and comp
store-sales decreased by 31 percent and 34 percent, respectively.

The retailer still maintains 15 Contractor's Warehouse units in the West
and Midwest and 28 bargain outlet stores in the Northeast
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