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HANNAFORD REPORTS HIGHER EARNINGS AND A MODEST SALES INCREASE FOR THE FIRST QUARTER

 HANNAFORD REPORTS HIGHER EARNINGS AND A MODEST SALES INCREASE
 FOR THE FIRST QUARTER
 SCARBOROUGH, Maine, April 15 /PRNewswire/ -- Hannaford Bros. Co. (NYSE: HRD), Northern New England's largest food retailer, reported today that its first quarter sales and other revenues had increased slightly over the same period last year. Net sales and other revenues for the quarter ended March 28, 1992 were $486,768,995, a 0.2 percent increase over the $485,918,756 reported last year.
 Consolidated net earnings for the first quarter were $8,812,339. This represents an increase of 8.9 percent over last year's first quarter earnings of $8,095,056. Consolidated net earnings per share were 22 cents for the first quarter this year as compared to 20 cents last year, an increase of 10 percent.
 James L. Moody, Jr., chairman and chief executive officer, said, "Our sales in the first quarter were affected by the same general economic uncertainty that is affecting the sales of many other companies in our industry. A further influence is that sales for the Easter holiday season will be reported in the second quarter this year but were reflected in the first quarter last year, worsening 1992 first quarter comparisons. Our customer traffic counts continue to increase, but sales per transaction remain lower than a year ago. Same store supermarket sales were down 2.6 percent from last year, reflecting both the economic environment and the Easter comparison factor."
 Moody added, "Despite sluggish sales performance, earnings were in line with expectations. Gross margins have remained strong and our efforts to control costs throughout the organization have paid off. We are hopeful that economic conditions and consumer confidence will improve as the year progresses."
 HANNAFORD BROTHERS COMPANY
 Consolidated Operating Results (Unaudited)
 Amounts in Thousands (except per share data)
 Three Months Ended
 Percent
 3/28/92 3/30/91 Increase/Decrease
 Net sales & other revenues $486,769 $485,919 0.2
 Expenses:
 Cost of goods sold 365,488 368,684 (0.9)
 Selling, general &
 administrative 101,462 98,545 3.0
 Interest 5,167 5,263 (1.8)
 Total expenses 472,117 472,492 (0.1)
 Earnings before income taxes 14,652 13,427 9.1
 Income taxes 5,840 5,332 9.5
 Net earnings 8,812 8,095 8.9
 Per share of common stock:
 Net earnings $ .22 $ .20 10.0
 Cash dividend paid $ .075 $ .065 15.4
 Weighted average number of
 com. shares outstanding 40,274,499 39,734,298 ---
 -0- 4/15/92
 /CONTACT: Charles Crockett of Hannaford Bros., 207-883-2911
 (HRD) CO: Hannaford Bros. ST: Maine IN: FOD SU: ERN


TM -- NE015 -- 8765 04/15/92 13:43 EDT
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Publication:PR Newswire
Date:Apr 15, 1992
Words:443
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