Carter Hawley Hale Reports a $217-Million Full-Year Loss : * Retailing: But the Broadway’s parent, now in bankruptcy reorganization, believes that the worst is over.

Carter Hawley Hale, whose Broadway and other department stores have been in bankruptcy reorganization for the past 14 months, Friday reported a loss of $102.4 million for the final quarter of fiscal 1992 and a $217-million loss for the full year.

More than half--$113.9 million--of the loss for the fiscal year ended Feb. 1 was because of one-time costs associated with the bankruptcy and was taken in the final quarter. The company said its operations continue to be hampered by the poor economy in California, where the vast majority of its 88 department stores are located.

“We believe the worst is behind us,� said William Dombrowski, the retailer’s spokesman. “And we are in better shape today than a year ago because of our recent cost-cutting and consolidation efforts.�

However, Dombrowski acknowledged that the company continues to suffer from the weak California economy, especially in Southern California, and is heavily dependent on deep discounting to spur sales. “Business continues to be tough and high promotional,� Dombrowski said.

In the 1991 fiscal year, which included the period leading up to the bankruptcy filing, the company lost $119.7 million, including $72.7 million in the final quarter of that year.

For the 1992 fiscal year, sales were $2.1 billion, down nearly 10% from the $2.3 billion posted the year before. They reflected the huge drop in sales the company suffered in the months after its February, 1991, bankruptcy filing. In the final quarter of fiscal 1992, sales were $693.3 million, 7.8% below the $752.3 million posted in the prior year.

However, on an operational basis--excluding taxes and bankruptcy charges--the retailer posted a fourth quarter profit of $11.5 million, compared to an operational loss of $32.3 million in the prior year.

“On an operating basis, Carter Hawley Hale showed steady improvement throughout the past year, despite the disruptions caused by our reorganization filing and the difficult retailing environment,� said Philip M. Hawley, chairman and chief executive. “The consolidation program now being implemented will provide the foundation for continued progress.�

Earlier this year, the company announced the consolidation of its Broadway, Broadway Southwest, Emporium and Weinstock’s divisions into a single unit based in Los Angeles.

The consolidation eliminates the separate headquarter operations the company had maintained in San Francisco for its 34 Emporium and Weinstock’s stores sprinkled largely throughout Northern and Central California, Nevada and Utah, and in Phoenix for its 12 Broadway Southwest Stores. The moves will result in the elimination of about 550 jobs.

Carter Hawley Hale expects to emerge from bankruptcy protection by the end of the year and will be filing its reorganization plan for its operations within the next two months.

The plan is expected to detail what share of the company’s common stock will pass to the Zell-Chilmark Fund, a Chicago investment group that purchased about 85% of the retailer’s outstanding debts in expectation of taking control of the company once it emerges.

The fund’s controlling partners, Samuel Zell and David Schulte, have said they expect to gain control of between 75% and 90% of Carter Hawley Hale stock.

The reorganization plan will also reveal which of the company’s stores will be closed. The company has already said no more than 12 stores will be closed, including the stores in the Carson Mall and Cristown center in Phoenix, whose closings have already been announced.

Other stores widely believed to be among those targeted for closing are the Broadway outlet in the Anaheim Plaza and three Weinstock’s stores in Utah.