SALES SLIP, NET INCOME CLIMBS FOR SCHULTZ

SHEBOYGAN, Wis. -- Schultz Sav-O Stores here reported that net sales were down but earnings increased for the third quarter and nine months ended Oct. 7.llion. Earnings, however, rose 10.5% to $4.2 million.The company attributed its sales decreases to the termination of a three-store wholesale customer in Illinois in February 1994; the sale of one corporate retail store and its conversion into a franchise

SHEBOYGAN, Wis. -- Schultz Sav-O Stores here reported that net sales were down but earnings increased for the third quarter and nine months ended Oct. 7.

llion. Earnings, however, rose 10.5% to $4.2 million.

The company attributed its sales decreases to the termination of a three-store wholesale customer in Illinois in February 1994; the sale of one corporate retail store and its conversion into a franchise unit at the end of fiscal 1994; and the close of one corporate store in February 1995.

3RD-QUARTER RESULTS

Qtr Ended 10/7/95 10/8/94

Sales $99.4 million $101.9 million

Change - 2.5%

Net Income $1.4 million $1.3 million

Change + 7.7%

Inc/Share 28 cents 24 cents

40 Weeks 1995 1994

Sales $333.6 million $341.2 million

Change - 2.2%

Net Income $4.2 million $3.8 million

Change + 10.5%

Inc/Share 83 cents 70 cents