New Funeral Home In The Works
Submitted by:	N.O.V.A. April 2005
Source:  	Times Picayune 09-12-1992

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New Orleans will get a new funeral home when Stewart Enterprises
builds one next to Greenwood Cemetery.

The 12,500-square-foot All Faiths Funeral Home will be built on the
Canal Boulevard site that has been home to Lenfant's restaurant and
other businesses.

While close to Stewart's big funeral home at Lake Lawn Metairie
Cemetery, the company expects it to draw from a different market,
said Gerard Alexander, who heads Stewart's local operation.

Lake Lawn funeral home conducts 1,100 funerals a year - most of them
for people to be buried at the cemetery or the adjoining mausoleum.

But it conducts few of the funerals for people buried at Greenwood;
St. Patrick I, II and III; St. Louis I, II and III; Masonic; Cypress
Grove; Odd Fellows Rest; and other nearby cemeteries.

Stewart Enterprises hopes the new location will grab a larger market
share, and company chairman Frank Stewart thinks the prospects are
good.

The reason, he said, is that, increasingly, death care services are
provided at one site: embalming or cremation, a funeral and providing
a final resting place.

The $1.2 million project will have a chapel, two parlors, a casket
display room and support facilities.

The building should be started in mid-December and finished by
October 1993. The funeral home will be built on a two-acre site owned
by the Firemen's Charitable and Benevolent Association of New
Orleans, which owns Greenwood.

Richard Briede will be general manager. He has been general manager
of the McMahon-Coburn-Briede Funeral Home.

Stewart Enterprises operates in eight states, and has 47 funeral
homes and 35 cemeteries.

It is the nation's third-largest provider of funerals, interments and
memorials.

Earlier this week, Stewart reported earnings of $3.5 million or 35
cents a share on revenue of $38.5 million in the third quarter of its
1991-92 fiscal year. In the same quarter a year ago, the company
earned 2.5 million or 36 cents a share on revenue of $36.7 million.

Per share performance reflects a 43 percent increase in the number of
shares outstanding.

For the first three quarters of its fiscal year, Stewart earned $11.1
million or $1.12 a share on revenue of $114.1 million, compared with
earnings of $6.6 million or 95 cents a share on revenue of $102.8
million.

In national over-the-counter trading Friday, Stewart shares lost 7/8
to close at $19.