Levitz Furniture Inc. announces April comparable stores up 0.6%

Business Wire, May 6, 1997

BOCA RATON, Fla.--(BUSINESS WIRE)--May 6, 1997--Levitz Furniture Inc. (NYSE:LFI) announced Tuesday that sales for the month of April amounted to $69,000,000 as compared to $69,300,000 last year, a decrease of 0.4%.

For stores open more than one year, the sales increase was 0.6%.

According to Michael Bozic, chairman and chief executive officer: "The Northeast and Mid-Atlantic markets showed continued sales strength as did Northwest and most Southwest markets. Sales continued to be sluggish in the South and parts of the Midwest."

Separately, Levitz Furniture Inc. (NYSE:LFI) announced Tuesday that its 1997 Annual Meeting of Stockholders would be held on Tuesday, July 29, 1997 at 9:00 a.m. at The Deerfield Beach Hilton, 100 Fairway Drive, Deerfield Beach, Fla. The Board of Directors of Levitz Furniture Inc. had established June 13, 1997 as the record date for its annual meeting.

Levitz is a leading specialty retailer of furniture in the United States with a chain of 68 warehouse-showrooms and 61 satellite stores located in major metropolitan areas in 26 states. More information about Levitz is available via the World Wide Web at http://www.levitz.com .

This press release contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 with respect to the financial condition, results of operations and business of Levitz. These forward-looking statements involve certain risks and uncertainties. No assurance can be given that any such matters will be realized. Factors that may cause actual results to differ materially from those contemplated by such forward-looking statements include, among others, the following possibilities: (I) competitive conditions in the industry in which Levitz operates; and (II) general economic conditions that are less favorable than expected. -0-

NOTE TO EDITORS: In the World Wide Web address noted in this news release, there is a double slash between http: and www.levitz.com . These symbols may not appear properly in some systems.

CONTACT: Levitz Furniture Inc., Boca Raton

Patrick J. Nolan, Sr. Vice President Finance

561/994-5151