HANOVER NET OFF 16.2% IN QUARTER

WEEHAWKEN, N.J.--Hanover Direct Inc., a catalog firm, reported second-quarter earnings fell 16.2 percent to $2.8 million, or 3 cents a share, from $3.4 million, or 5 cents, a year ago.
Sales for the quarter ended July 2 jumped 28.3 percent to $185.1 million from $144.3 million. Apparel revenues were flat in the latest quarter.
In the half, earnings dropped 22.6 percent to $6 million, or 6 cents, from $4.8 million a year earlier. Sales gained 37 percent to $364.3 million from $265.9 million. Jack E. Rosenfeld, president and chief executive officer, noted that circulation was increased by 34 percent to 112 million in anticipation of the 1995 postal rate increase. This resulted in higher selling expenses.

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