ADVANCE DATA ON LARGE RETAILERS' PROFITS FOR THE FIRST QUARTER 1993

After-tax profits for retail corporations with assets of $50 million and 
over averaged 0.8 cents per dollar of sales for the first quarter of 1993, 
down 0.6 cents from the preceding quarter and up 1.2 cents from the same 
quarter in 1992, according to advance data from the Commerce Department's 
Bureau of the Census.

For the first quarter of 1993, these large retail corporations reported
after-tax profits of $1.5 billion, down $1.4 billion from the preceding
quarter and up $2.2 billion from the same quarter a year ago.  The annual 
rate of after-tax return on stockholders' equity was 5.2 percent, compared 
to 10.3 percent in the fourth quarter of 1992 and a negative 2.8 percent 
in the first quarter of 1992.

First quarter 1993 sales were $179.2 billion, down $34.2 billion or
16.0 percent from last quarter.  First quarter sales on a year-to-year 
basis were up $9.2 billion or 5.4 percent. 

These data are based on quarterly financial reports obtained from 
678 corporations.  The figures in this release are not seasonally 
adjusted.  More detailed information on the retail trade sector for 
the first quarter will be published in the Quarterly Financial Report 
for Manufacturing, Mining, and Trade Corporations--Second Quarter 1993.
Second quarter 1993 advance data are scheduled for release on
September 13, 1993.

Schedule of Advance Data Release Dates--1993

Quarter      Manufacturing, Mining, and Wholesale Trade   Retail Trade

Second 1993                   September 13, 1993          October 13,1993
Third 1993                    December 13, 1993

Questions concerning this advance data report should be directed to 
Paul Zarrett (301) 763-2718 or Ronald Lee (301) 763-4270.

 
TABLE 1.  INCOME STATEMENT FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF 
$50 MILLION AND OVER

                                                     1Q       4Q       1Q
                                                   1993     1992(1)  1992(1)
                                                   (millions of dollars)

Net sales, receipts, and operating revenues.... 179,199  213,390  169,957
Less: Depreciation, depletion, and amortization   3,847    3,901    3,640
Less: All other operating costs and expenses... 169,355  197,444  160,903

  Income (or loss) from operations.............   5,997   12,045    5,413

Net nonoperating income (expense).............. (3,109)  (6,440)  (5,858)

  Income (or loss) before income taxes.........   2,888    5,604    (445)

Less: Provision for current and deferred
  domestic income taxes........................   1,379    2,646      293

  Income (or loss) after income taxes..........   1,509    2,958    (738)
                                                
Cash dividends charged to retained earnings
  in current quarter...........................   1,328    1,243    1,183 

  Net income retained in business..............     182    1,715  (1,921)

Retained earnings at beginning of quarter......  69,070   65,483   66,582
Other direct credits (or charges) to
  retained earnings (net)......................   (610)    1,127    (868)

Retained earnings at end of quarter............  68,642   68,325   63,792

(1) Revised. 
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TABLE 2.  INCOME STATEMENT IN RATIO FORMAT FOR RETAIL TRADE CORPORATIONS 
WITH ASSETS OF $50 MILLION AND OVER

                                                     1Q      4Q      1Q
                                                   1993    1992(1) 1992(1)
                                                          (cents)

Net sales, receipts, and operating revenues....   100.0   100.0   100.0
Less: Depreciation, depletion, and amortization     2.1     1.8     2.1
Less: All other operating costs and expenses...    94.5    92.5    94.7

  Income (or loss) from operations.............     3.3     5.6     3.2

Net nonoperating income (expense)..............   (1.7)   (3.0)   (3.4)

  Income (or loss) before income taxes.........     1.6     2.6   (0.3)
                                                  
Less: Provision for current and deferred
  domestic income taxes........................     0.8     1.2     0.2

  Income (or loss) after income taxes..........     0.8     1.4   (0.4)
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TABLE 3.  OPERATING RATIOS FOR RETAIL TRADE CORPORATIONS WITH ASSETS OF 
$50 MILLION AND OVER

                                                     1Q      4Q      1Q
                                                   1993    1992(1) 1992(1)
                                                          (percent)

Annual rate of profit on stockholders' equity
  at end of period:
    Before income taxes.........................  10.03   19.57  (1.70)
    After income taxes..........................   5.24   10.33  (2.82)

Annual rate of profit on total assets:
    Before income taxes.........................   2.97    5.83  (0.48)
    After income taxes..........................   1.55    3.08  (0.79)

(1) Revised.

Questions concerning this advance report should be directed to 
Paul Zarrett (301) 763-2718 or Ronald Lee (301) 763-4270.