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HANNAFORD REPORTS INCREASED SALES AND EARNINGS FOR THE FOURTH QUARTER AND FISCAL YEAR

 SCARBOROUGH, Maine, Jan. 27 /PRNewswire/ -- Hannaford Bros. Co., (NYSE: HRD), Northern New England's largest food retailer, today announced increased sales and earnings for the fourth quarter and fiscal year ended Jan. 2, 1993. Fiscal year 1992 contained 53 weeks of operations as compared to 52 weeks in fiscal 1991. The additional week of operations was contained in the fourth quarter 1992 results.
 Consolidated sales and other revenues for 1992 amounted to $2,066,023,229, an increase of 2.9 percent over last year's sales and other revenues of $2,007,960,100. Fourth quarter 1992 sales and other revenues were $540,340,930, as compared to $505,874,824 last year, an increase of 6.8 percent. It should be noted that 1991 results include the sales from 34 Wellby Super Drug stores which were sold to Rite Aid Corporation on May 27, 1992. Had the sales from these stores been excluded from prior results, sales and other revenues would have increased 5.6 percent for the year and 12.0 percent for the fourth quarter.
 Consolidated net earnings for the year were $49,194,348, an increase of 13.5 percent over net earnings in 1991 of $43,350,206. Consolidated net earnings per common share were $1.21 this year as compared to $1.08 last year, an increase of 12.0 percent. In the fourth quarter, consolidated net earnings amounted to $13,371,812 as compared to $10,713,184 last year, an increase of 24.8 percent. Consolidated net earnings per common share for the fourth quarter amounted to 33 cents this year, up 22.2 percent over the 27 cents reported in 1991.
 Hugh G. Farrington, president and chief executive officer, said, "We were very pleased with our 1992 results even when comparisons are made without the advantage of the 53rd week of operations. During 1992, we operated in a depressed economic environment which saw supermarket sales decrease due to continued trading down by consumers. Our results reflect slight deflation for the year, driven primarily by lower perishable prices. In addition, 1992 brought significant changes in our competitive environment with margin pressures from some of our traditional competitors and the entry of warehouse clubs to many of our markets. Our same store sales, on a comparable basis with last year (disregarding the 53rd week), were down 2.9 percent in the fourth quarter and down 1.8 percent for the year."
 Farrington added, "Our expansion program continued at a strong pace in 1992, adding 11.6 percent to our food store selling area. In 1993, we expect to spend over $100 million on new and expanded facilities to be ready for operation in 1993 and early 1994. We expect our retail selling area to increase over 8 percent in 1993." In recapping results, Farrington said, "These results would not have been possible without the hard work, dedication and resourcefulness of our 15,000 associates, to whom, we convey our gratitude and thanks."
 HANNAFORD BROTHERS COMPANY
 Consolidated Operating Results (Unaudited)
 Three Months Ended
 Percent
 1/2/93 12/28/91 Incr./(Decr.)
 Sales & other revenues $540,340,930 $505,874,824 6.8
 Cost of sales 406,172,951 380,108,181 6.9
 Gross Margin 134,167,979 125,766,643 6.7
 Selling, general &
 administrative expenses 106,213,534 102,120,179 4.0
 Operating profit 27,954,445 23,646,464 18.2
 Interest expense, net 5,392,415 5,398,698 (0.1)
 Earnings before income taxes 22,562,030 18,247,766 23.6
 Income taxes 9,190,218 7,534,582 22.0
 Net earnings $13,371,812 $10,713,184 24.8
 Per share of common stock:
 Net earnings 33 cents 27 cents 22.2
 Cash dividends 75 cents 65 cents 15.4
 Weighted average number of
 com. shares outstanding 40,715,224 40,102,954 ---
 Twelve Months Ended
 Percent
 9/26/92 9/28/91 Incr./(Decr.)
 Sales & other revenues $2,066,023,229 $2,007,960,100 2.9
 Cost of sales 1,552,155,032 1,513,130,264 2.6
 Gross Margin 513,868,197 494,829,836 3.8
 Selling, general &
 administrative expenses 411,487,089 401,450,706 2.5
 Operating profit 102,381,108 93,379,130 9.6
 Interest expense, net 20,710,693 20,742,639 (0.2)
 Earnings before income taxes 81,670,415 72,636,491 12.4
 Income taxes 32,476,067 29,286,285 10.9
 Net earnings $49,194,348 $43,350,206 13.5
 Per share of common stock:
 Net earnings $1.21 $1.08 12.0
 Cash dividends 30 cents 26 cents 15.4
 Weighted average number of
 com. shares outstanding 40,519,986 39,938,820 ---
 ----
 NOTE: Fiscal year 1992 includes 53 weeks of operations.
 -0- 1/27/93
 /CONTACT: Charles H. Crockett of Hannaford Bros., 207-883-2911
 (HRD)


CO: Hannaford Bros. ST: Maine IN: FOD SU: ERN

DD -- NE006 -- 9613 01/27/93 11:43 EST
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Date:Jan 27, 1993
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