SECURITIES AND EXCHANGE COMMISSION
                            Washington, D.C.  20549
                                   FORM 10-Q


QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
ACT OF 1934



For the Quarter Ended                     January 31, 1997                    


Commission File Number                         1-4925                         


               
                           HARCOURT GENERAL, INC.                             

(Exact name of registrant as specified in its charter)            



           Delaware                                         04-1619609       
(State or other jurisdiction of                           (I.R.S. Employer
incorporation or organization)                            Identification No.)



27 Boylston Street, Chestnut Hill, MA                                    02167 
(Address of principal executive offices)                            (Zip Code)




                                  (617)232-8200                               
             (Registrant's telephone number, including area code)


Indicate  by  check mark  whether  the registrant  (1)  has filed  all reports
required  to be filed by Section 13 or 15(d) of the Securities Exchange Act of
1934  during the  preceding 12  months (or  for such  shorter period  that the
registrant  was required to  file such reports),  and (2) has  been subject to
such filing requirements for the past 90 days.


            YES   X           NO       



As of March 10, 1997, the number of outstanding shares of each of the issuer's
classes of common stock was:


          Class                                           Shares Outstanding   
Common Stock, $1.00 Par Value                               50,717,022
Class B Stock, $1.00 Par Value                              20,023,955
                                        <PAGE>


                            HARCOURT GENERAL, INC.

                                   I N D E X




Part I.     Financial Information                                 Page Number

  Item 1.   Condensed Consolidated Balance Sheets as of
              January 31, 1997 and October 31, l996                     1  

            Condensed Consolidated Statements of Earnings
              for the Three Months Ended January 31, l997
              and l996                                                  2  

            Condensed Consolidated Statements of Cash Flows
              for the Three Months Ended January 31, l997
              and l996                                                  3  

            Notes to Condensed Consolidated Financial Statements        4 

  Item 2.   Management's Discussion and Analysis of Financial
              Condition and Results of Operations                      5-8 



Part II.    Other Information

  Item 6.   Exhibits and Reports on Form 8-K                             9 

Signatures                                                              10  


Exhibit 11.1                                                            11  

Exhibit 27.1                                                            12

                                        <PAGE>

<TABLE>
                                        HARCOURT GENERAL, INC.
                                 CONDENSED CONSOLIDATED BALANCE SHEETS
                                              (UNAUDITED)

<CAPTION>
(In thousands)
                                                     January 31,   October 31,
                                                            1997          l996
Assets
Current assets:
<S>                                                  <C>           <C>
  Cash and equivalents                               $  543,336    $  532,862 
  Short-term investments                                299,355       242,054 
  Accounts receivable, net                              378,717       409,110 
  Inventories                                           688,590       592,141 
  Deferred income taxes                                  77,491        77,491 
  Other current assets                                   80,204        79,607 
    Total current assets                              2,067,693     1,933,265 

Property and equipment, net                             569,155       574,926 

Other assets:                                                                       
  Prepublication costs, net                             206,151       209,519 
  Intangible assets, net                                451,452       456,494 
  Other                                                 160,477       152,034 
    Total other assets                                  818,080       818,047 

    Total assets                                     $3,454,928    $3,326,238 

Liabilities and Shareholders' Equity
Current liabilities:
  Notes payable and current maturities of
    long-term liabilities                            $  162,213     $ 163,717 
  Accounts payable                                      318,921       315,108 
  Accrued liabilities                                   332,021       333,205 
  Taxes payable                                          55,550        77,548 
  Other current liabilities                             123,318        58,769 
    Total current liabilities                           992,023       948,347 

Long-term liabilities:
  Notes and debentures                                  812,312       714,282 
  Other long-term liabilities                           230,339       224,792 
    Total long-term liabilities                       1,042,651       939,074 

Deferred income taxes                                   187,632       187,632 

Minority interest                                       217,653       217,653 

Shareholders' equity:
  Preferred stock                                         1,147         1,152 
  Common stock                                           70,731        71,119 
  Paid-in capital                                       744,174       743,947 
  Cumulative translation adjustments                     (5,191)       (4,493)
  Retained earnings                                     204,108       221,807 
    Total shareholders' equity                        1,014,969     1,033,532 

    Total liabilities and shareholders' equity       $3,454,928    $3,326,238 

   See Notes to Condensed Consolidated Financial Statements.
</TABLE>
                                                   1 <PAGE>
 


<TABLE>
                                        HARCOURT GENERAL, INC.
                             CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS
                                              (UNAUDITED)

<CAPTION>
(In thousands except
for per share amounts)

                                                                              
                                                        For the three months 
                                                         ended January 31,   
                                                           1997          1996 

<S>                                                    <C>           <C>
Revenues                                               $768,698      $698,441 

Costs applicable to revenues                            454,836       418,240 
Selling, general and administrative expenses            270,873       235,279 
Corporate expenses                                       10,703         7,403 

Operating earnings                                       32,286        37,519 

Investment income                                        10,594         8,174 
Interest expense                                        (20,650)      (20,455)

Earnings before income taxes                             22,230        25,238 

Income taxes                                             (7,558)       (8,581)

Net earnings                                           $ 14,672      $ 16,657 
Weighted average number of common and common 
  equivalent shares outstanding                          72,380        73,360 

Earnings per common share:

  Net earnings                                         $    .20      $    .23 

Dividends per share:
  Common Stock                                         $    .18      $    .17 
  Class B Stock                                        $   .162      $   .153 
  Series A Stock                                       $  .2055      $  .1945 
















   See Notes to Condensed Consolidated Financial Statements.
</TABLE>
                                                   2 <PAGE>
 
<TABLE>

                                        HARCOURT GENERAL, INC.
                            CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
                                              (UNAUDITED)


<CAPTION>
(In thousands)
                                                                              
                                                        For the three months
                                                         ended January 31,
                                                           1997          1996 

Cash flows from operating activities:
<S>                                                    <C>           <C>
  Net earnings                                         $ 14,672      $ 16,657 
  Adjustments to reconcile net earnings to
    net cash provided by operating activities:
      Depreciation and amortization                      50,912        40,641                                       Other items
                                                            248         4,070
              Changes in assets and liabilities:
        Accounts receivable                              36,350        34,834 
        Inventories                                     (95,079)     (121,801)
        Other current assets                               (413)      (22,325)
        Current liabilities                              43,140        73,539 

Net cash provided by operating activities                49,830        25,615 

Cash flows from investing activities:
  Capital expenditures                                  (33,893)      (56,917)
  Purchase of short-term investments                   (154,547)      (65,741)
  Maturities of short-term investments                   97,246        22,604 
  Acquisitions                                           (5,443)      (15,560)
  Other investing activities                             (6,503)      (25,589)

Net cash used for investing activities                 (103,140)     (141,203)

Cash flows from financing activities:
  Proceeds from borrowings                              148,506       124,400 
  Repayment of debt                                     (52,000)         (340)
  Cash dividends paid                                   (12,629)      (12,083)
  Repurchase of Common Stock                            (20,139)      (66,806)
  Equity transactions                                        46          (133)

Net cash provided by financing activities                63,784        45,038 

Cash and equivalents
  Increase (decrease) during the period                  10,474       (70,550)
  Beginning balance                                     532,862       363,750 
  Ending balance                                       $543,336      $293,200 











   See Notes to Condensed Consolidated Financial Statements.
</TABLE>
                                                   3 <PAGE>
 


                            HARCOURT GENERAL, INC.

             NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
                                  (UNAUDITED)


1.    Basis of presentation

      The  Condensed Consolidated  Financial Statements  of  Harcourt General,
      Inc. (the Company) are submitted in response to the requirements of Form
      10-Q and should be  read in conjunction with the  Consolidated Financial
      Statements in  the Company's Annual Report on Form 10-K.  In the opinion
      of management, these statements contain all adjustments, consisting only
      of normal recurring accruals,  necessary for a fair presentation  of the
      results  for  the  interim periods  presented.    The  January 31,  1997
      Condensed Consolidated Financial Statements include the November 2, l996
      Condensed Consolidated Financial Statements  of The Neiman Marcus Group,
      Inc. (NMG).  NMG is a separate public company which is listed on the New
      York Stock Exchange and is subject to the  reporting requirements of the
      Securities Exchange Act of 1934.  The Company owns approximately  53% of
      the common stock of NMG.

      The Company's  businesses are seasonal  in nature, and  historically the
      results of operations for these periods have  not been indicative of the
      results for the full year.

2.    Stock purchase program

      The Company's  Board of Directors has  authorized the purchase of  up to
      3.5  million shares of  the Company s Common Stock  pursuant to its open
      market stock  purchase program.  During  the quarter  ended January  31,
      1997, the  Company repurchased  approximately .4  million  shares at  an
      average price of $45.56 per share.

3.    New accounting standard

      On  January  1,   1997,  the  Company  adopted  Statement  of  Financial
      Accounting Standard No. 125, "Accounting  for Transfers and Servicing of
      Financial Assets and Extinguishments of  Liabilities" (SFAS 125).   This
      statement provides  consistent guidance for  distinguishing transfers of
      financial assets  (e.g. securitizations)  that are sales  from transfers
      that are  secured borrowings.  The  effect of adopting SFAS  125 was not
      material to the Company's financial position or results of operations.




 











                                       4<PAGE>








                            HARCOURT GENERAL, INC.

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS

                             Results of Operations

  Three Months Ended January 31, 1997 versus Three Months Ended January 31, 1996
<TABLE>
The following table illustrates revenues and operating earnings (loss) by business
segment for the three months ended January 31.

                                                                                            
<CAPTION>
      (In thousands)                                       1997          1996 
      Revenues:
        <S>                                            <C>           <C>
        Publishing                                     $198,382      $177,028 
        Specialty retailing                             544,103       489,898 
        Professional services                            26,213        31,515 
          Total revenues                               $768,698      $698,441 

      Operating earnings (loss):
        Publishing                                    ($ 19,527)    ($ 11,334)
        Specialty retailing                              62,312        52,742 
        Professional services                               204         3,514 
        Corporate expenses                              (10,703)       (7,403)
          Total operating earnings                     $ 32,286      $ 37,519 
</TABLE>

Publishing

Publishing  revenues increased  $21.4 million  or 12.1%  compared to  the same
period  last   year.  The  Company's  international   group,  its  scientific,
technical,  medical   and  professional   (STMP)  publishing  group   and  its
educational  group  each  contributed  to  the  increase  in  revenues.    The
international  publishing  group  revenues  increased  primarily  due  to  the
acquisition during this quarter of both a Spanish  language medical and health
sciences publisher  and international  distribution rights to  Mosby-Year Book
health sciences publications.  Higher journal revenues  at Academic Press  and
incremental  revenues at International Medical News  Group (IMNG), acquired by
W.B. Saunders at the  end of the first quarter of fiscal  1996, were primarily
responsible  for  the   increased  revenues  at  the  STMP  publishing  group.
Increased revenues at the  educational publishing group were primarily  due to
higher testing program revenues.

The publishing operating  loss increased  to $19.5 million  compared to  $11.3
million  in the same period  last year.  The  seasonal loss by the educational
group  reflects  the higher  levels of  selling  costs and  plate amortization
incurred for  the  elementary  and  secondary businesses  in  preparation  for
significant  textbook adoptions  expected later  in the year.   This  loss was
offset  in  part  by  the  STMP publishing  group's earnings,  which  rose in
comparison to the prior year quarter primarily as a result of the higher sales
volume by Academic Press.

Specialty Retailing

Specialty  retailing results  are reported  with a  lag of  one quarter.   The
operating results of The Neiman Marcus Group, Inc. (NMG) for the quarter ended
November 2, 1996 therefore were consolidated with the operating results of the
Company for the quarter ended January 31, 1997.


                                          5 <PAGE>
 



                            HARCOURT GENERAL, INC.

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS

Specialty Retailing (continued)

Specialty  retailing revenues  in the  thirteen weeks  ended November  2, 1996
increased $54.2  million or 11.1%  over revenues in  the thirteen weeks  ended
October 28,  1995.  The  revenue growth was  primarily attributable to  a 6.8%
increase in comparable sales and  the opening of two new Neiman  Marcus stores
in  King of Prussia, Pennsylvania in February  1996 and Paramus, New Jersey in
August  1996.  Comparable sales at  Neiman Marcus Stores increased 7.7%, while
NM Direct revenues increased 8.0% over the prior year and revenues at Bergdorf
Goodman increased only slightly.

The 18.1% increase  in specialty retailing operating earnings  was principally
due  to  higher revenues  at  each  of NMG s  divisions.    The increase  also
reflected, to  a lesser extent, improved  gross margins at both  NM Direct and
Bergdorf Goodman,  and  a reduction  in  selling, general  and  administrative
expenses as a percentage of revenues.

Professional Services

Professional  services revenues decreased 16.8% to $26.2 million in the fiscal
1997 first  quarter  from $31.5  million  in fiscal  1996.   The  decrease  is
attributed to lower  volume and  lower prices due  to competitive  conditions,
particularly in the group outplacement programs.

Professional services operating earnings decreased $3.3 million to $.2 million
compared  to  the same  period  in  the prior  year.    The decrease  resulted
primarily from lower revenues.

Corporate Expenses

Corporate  expenses increased  $3.3  million to  $10.7  million in  the  first
quarter of 1997.  The increase is primarily due to higher compensation expense
recognized  in connection with the  resignation of the  Company's former chief
executive officer during the quarter. 

Investment Income

Investment income increased  29.6% to  $10.6 million from  the previous  year,
primarily due  to a  higher average  portfolio balance  in fiscal  1997, which
included $268.8 million  in cash proceeds  from NMG's  issuance of its  common
stock to the public.

Interest Expense

Interest expense increased slightly to $20.7 million from $20.5 million in the
same  period last  year.  NMG  average debt  outstanding was  higher in fiscal
1997;  however, its  effective interest  rate decreased  in comparison  to the
prior year  period as fixed rate  senior notes were repaid  upon maturity with
borrowings under NMG's revolving credit agreement.




                                       6<PAGE>


                            HARCOURT GENERAL, INC.

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS


Income Tax Expense

The Company's effective tax rate is expected to be 34% in fiscal 1997,
unchanged from fiscal 1996. 


                        Liquidity and Capital Resources

The  following   discussion  analyzes  liquidity  and   capital  resources  by
operating, investing and  financing activities as  presented in the  Company's
condensed consolidated statement of cash flows.

Cash provided by operating activities  for the quarter ended January 31,  l997
was $49.8 million.  The publishing and professional services business segments
provided  $131.5 million of cash  from operations while  NMG's operations used
$81.7  million of cash.  The cash  provided by the publishing and professional
services  business segments  was  sufficient to  fund  their working  capital,
capital expenditures and  the Company's dividend requirements.   NMG increased
its  borrowings in  order  to fund  working  capital for  the holiday  season,
capital expenditures and  the repurchase  of all of  its redeemable  preferred
stocks from the Company.

The  most  significant items  affecting working  capital  were an  increase in
inventories  of $95.1 million,  which was partially offset  by a $43.1 million
increase  in  current liabilities  and a  $36.4  million decrease  in accounts
receivable.  The  increase in  inventory was primarily  attributable to  NMG's
holiday season.   Other  current liabilities were  higher due to  the seasonal
increase  in  unearned  subscriptions  at  the STMP  group.    A  decrease  in
publishing accounts receivable was partially offset by an increase at NMG.

Cash flows used by  investing activities were  $103.1 million for the  quarter
ended January 31, 1997.   The Company's investing activities  included capital
expenditures totaling $33.9 million.   Publishing capital expenditures in  the
1997  quarter  totaled   $20.0  million  and   were  principally  related   to
expenditures for prepublication costs.  Capital expenditures in the publishing
business are expected to approximate $150.0 million in fiscal 1997.  Specialty
retailing capital expenditures in  the 1997 quarter totaled $12.6  million and
consisted principally of  existing store renovations.  NMG opened a new Neiman
Marcus store  in Paramus, New Jersey in August 1996.  Capital expenditures for
NMG in fiscal 1997 are expected to approximate $65.0 million.

In October 1996, NMG sold 8.0 million shares of its common stock to the public
at $35.00 per share.  The net proceeds  were used, together with an additional
3.9 million shares of NMG common  stock and bank borrowings, to repurchase all
of NMG's  outstanding preferred stock from  the Company.  The  Company will no
longer receive the annual  dividends of approximately $27.1 million  from such
preferred stock.

Financing activities reflect  additional borrowings by  NMG of $148.5  million
under  its revolving credit agreement, which included borrowings made to repay
$52.0 million of senior  notes at maturity. Financing activities  also include
the  repurchase of  approximately .4  million shares  of the  Company's Common

                                       7<PAGE>



                            HARCOURT GENERAL, INC.

          MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION
                           AND RESULTS OF OPERATIONS

                        Liquidity and Capital Resources

Stock in the open market at an average price of $45.56 per share and the
payment of $12.6 million of dividends. 

At January 31, 1997, the Company had the entire $400.0 million available under
its revolving credit agreement with thirteen banks.   The agreement expires in
December 1999.  NMG had $190.0 million available at November 2, 1996 under its
revolving credit facility, which expires in April 2000.

The Company believes its cash on  hand, cash generated from operations and its
current  and future  debt  capacity will  be sufficient  to  fund its  planned
capital growth as well as its operating and dividend requirements.








































                                      8<PAGE>


                                    PART II





Item 6.   Exhibits and Reports on Form 8-K.

(a)       Exhibits.

11.1      Computation of weighted average number of shares outstanding used in
          determining primary and fully diluted earnings per share.

27.1      Financial data schedule


(b)       Reports on Form 8-K.

          The  Company filed  a  report  on Form  8-K  on  November  25,  1996
          describing  in Item  2 (Acquisition  or  Disposition of  Assets) the
          repurchase  from  the  Company  by  NMG  of  all  NMG's  issued  and
          outstanding preferred  stocks,  together with  pro  forma  financial
          information.




































                                      9<PAGE>


                                  SIGNATURES




Pursuant  to the  requirements of  the Securities  Exchange Act  of  1934, the
registrant has  duly caused  this report  to be  signed on  its behalf  by the
undersigned hereunto duly authorized.


                                               HARCOURT GENERAL, INC.



Date:  March 17, 1997                        /s/ John R. Cook       
                                             John R. Cook
                                             Senior Vice President and 
                                             Chief Financial Officer



Date:  March 17, 1997                        /s/ Stephen C. Richards
                                             Stephen C. Richards
                                             Vice President and
                                             Controller
                                             Principal Accounting Officer

































                                       10<PAGE>