COLUMBUS, Ohio, Sept. 11 /PRNewswire/ -- Value City Department Stores, Inc. (NYSE: VCD - news) today announced financial results for its second quarter ended July 29, 2000.

Sales for the second quarter increased 41.7% to $528.2 million from $372.8 million. This year's second quarter sales includes $62.8 million net owned sales for our 17 Filene's Basement stores. Same store sales increased 3.2%.

Sales for the six months ended July 29, 2000 increased 38.1% to $990.3 million from $717.3 million. This year's sales included $89.8 million net owned sales for our 17 Filene's Basement stores acquired effective March 17, 2000. Same store sales increased 4.8%.

The Company's net income for the quarter was $0.1 million, or $0.00 for diluted earnings per share, versus $4.0 million, or $0.12 per share for last year's quarter.

The Company's net income for the six months was $0.1 million, or $0.00 for diluted earnings per share, versus $5.5 million, or $0.17 for last year's six months.

Value City Department Stores, Inc. is a leading off-price retailer, currently operating 120 full-line department stores in the midwest, mid- Atlantic and southeastern U.S., 17 Filene's Basement stores primarily in the northeastern U.S. as well as 65 better-branded, off-price DSW Shoe Warehouse stores in major metropolitan areas throughout the country.



VALUE CITY DEPARTMENT STORES, INC. (NYSE: VCD - news)
(in millions except per share and footnote data)
(unaudited)
Second Quarter Ended
Second Quarter Ended
Six Months Ended
7/29/00
7/31/99
7/29/00
7/31/99
NET OWNED SALES
$528.2
$372.8
$990.3
$717.3
NET INCOME
$0.1
$4.0
$0.1
$5.5
BASIC AND DILUTED EARNINGS PER SHARE
$0.00
$0.12
$0.00
$0.17
WEIGHTED AVERAGE SHARES OUTSTANDING (a)
33.5
32.3
33.4
32.3
SHARES USED FOR DILUTED EPS (a)
33.7
32.6
33.6
32.6
(a) Excludes 7,651 and 87,651 treasury shares at July 29, 2000 and July 31, 1999, respectively.


For More Information Contact:

James McGrady
Phone: (614) 478-2300
Value City Department Stores, Inc.
3241 Westerville Road, Columbus, OH 43224