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

 HANNAFORD REPORTS RECORD SALES AND EARNINGS FOR
 THE FOURTH QUARTER AND FISCAL YEAR
 SCARBOROUGH, Maine, Jan. 23 /PRNewswire/ -- Hannaford Bros. Co. (NYSE: HRD), Northern New England's largest food retailer, today announced record sales and earnings for the fourth quarter and fiscal year ended Dec. 28, 1991.
 Consolidated net sales and other revenues for 1991 crossed the $2 billion mark, amounting to $2,007,960,100, an increase of 19.0 percent over last year's net sales and other revenues of $1,687,648,749. Consolidated net earnings for the year were $43,350,206, an increase of 2.7 percent over net earnings in 1990 of $42,218,578. Consolidated net earnings per common share were $2.16 this year as compared to $2.13 in 1990.
 For the fourth quarter, net sales and other revenues increased 16.6 percent from $433,940,281 in 1990 to $505,874,824 this year. Fourth quarter consolidated net earnings were $10,713,184 in 1991, compared to $8,713,134 last year, an increase of 23.0 percent. Consolidated net earnings per common share were 53 cents this year as compared to 44 cents in the fourth quarter of 1990.
 It should be noted that 1991 sales and earnings results were significantly affected by the economic recession and the integration of the Alexander's Supermarket chain acquired in late 1990. The sluggish economy negatively affected both sales and earnings. Hannaford's ownership of Alexander's increased sales but reduced earnings by approximately 18 cents per share from where they would have been without the acquisition.
 James L. Moody Jr., chairman and chief executive officer, said: "We were very pleased to achieve a new milestone of over $2 billion in sales this year, nearly doubling our sales over the last five years. Our same store supermarket sales were up 2.5 percent over last year, not as strong as reported in prior years; but we feel they were very good given the severity of the economic recession in most of our marketing territory."
 Moody added: "Earnings results in the fourth quarter were very good, being up 23.0 percent over last year. In early December, we cautioned the investment community that, although we expected fourth quarter earnings to be greater than a year ago, they might not be high enough to make annual earnings for 1991 exceed the $2.13 per share reported in 1990. This caution was based on projections at the time which followed sluggish Thanksgiving sales. We were pleased that sales through the Christmas period were better than expected. That, helped by tight expense controls and a favorable LIFO adjustment enabled us to report better fourth quarter results and an increase in net earnings for the year."
 HANNAFORD BROS. CO.
 Consolidated Operating Results
 (Unaudited)
 Three Months Ended Dec. 28, Dec. 29, Pct. Incr.
 1991 1990 (Decr.)
 Net Sales and other
 revenue $505,874,824 $433,940,281 16.6
 Expenses:
 Cost of goods sold 380,108,181 330,287,778 15.1
 Selling, general
 and administrative 102,120,179 85,049,196 20.1
 Interest 5,398,698 4,189,056 28.9
 Total Expenses 487,627,058 419,526,030 16.2
 Earnings before
 income taxes 18,247,766 14,414,251 26.6
 Income taxes 7,534,582 5,701,117 32.2
 Net earnings $ 10,713,184 $ 8,713,134 23.0
 Per share of common
 stock:
 Net Earnings $ 0.53 $ 0.44 20.5
 Cash dividend paid $ 0.13 $ 0.11 18.2
 Weighted average
 number of common
 shares outstanding 20,051,477 19,790,894
 Twelve Months Ended Dec. 28, Dec. 29, Pct. Incr.
 1991 1990 (Decr.)
 Net Sales and other
 revenue $2,007,960,100 $1,687,648,749 19.0
 Expenses:
 Cost of goods sold 1,513,130,264 1,281,099,077 18.1
 Selling, general
 and administrative 401,450,706 323,853,003 24.0
 Interest 20,742,639 12,954,777 60.1
 Total Expenses 1,935,323,609 1,617,906,857 19.6
 Earnings before
 income taxes 72,636,491 69,741,892 4.2
 Income taxes 29,286,285 27,523,314 6.4
 Net earnings $ 43,350,206 $ 42,218,578 2.7
 Per share of common
 stock:
 Net Earnings $ 2.16 $ 2.13 1.4
 Cash dividend paid $ 0.52 $ 0.44 18.2
 Weighted average
 number of common
 shares outstanding 19,969,410 19,717,337
 -0- 1/23/92
 /CONTACT: Charles H. Crockett, assistant secretary of Hannaford, 207-883-2911/
 (HRD) CO: Hannaford Bros. Co. ST: Maine IN: RET SU: ERN


MK-TW -- NE009 -- 2725 01/23/92 11:00 EST
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Date:Jan 23, 1992
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