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EARNINGS

February 18, 1988

Winchell's Donut Houses posted a loss of $11.5 million for 1987 and sales declined 7% to $151 million. The La Mirada-based company said average sales per store were down 4% for the year. Earnings were affected by a $3.2-million provision for the closing of 45 stores, a $2.6-million charge to increase workers' compensation reserves and a $700,000 charge to increase a reserve for the possible writeoff of certain accounts receivable.

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