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KASH N' KARRY SALES UP AGAIN; HYDE PARK STORE OPENS

 TAMPA, Fla., March 16 /PRNewswire/ -- Kash n' Karry Food Stores, Inc. reported Tuesday another quarterly increase in sales and operating cash flow, boosted by its recent acquisition of three warehouse-format stores, the opening of another prototype store in St. Petersburg and the expansion of a store in Sarasota.
 Company executives expect the sales and cash flow increases to continue through the balance of the year triggered by this week's grand opening of its flagship store in the Hyde Park section of Tampa and two new stores which will open in Ocala and Zephyrhills in May 1993.
 Operating cash flow (earnings before interest, taxes, depreciation and amortization) increased to $15.7 million on sales of $286.9 in the second quarter, compared to operating cash flow of $15.6 million on sales of $275.3 million in the same period a year ago. Operating cash flow is a vital financial indicator for a company like Kash n' Karry. Positive, stable operating cash flow drives the strategic financial plan of the 116-store company. Since a leveraged buy-out in 1988, Kash n' Karry has consistently achieved its financial benchmarks.
 Operating cash flow for the six months ended Jan. 31 was $25.7 million, an increase of 4 percent over the $24.7 million posted in the comparable 26-week period last year. Sales for the period were $537.8 million, up 2 percent from the $527.0 million for the comparable year- ago period.
 Ron Floto, the chief executive officer of Kash n' Karry, said the opening of the 45,000-square-foot prototype store at Howard Avenue and Swann Avenue in the Hyde Park neighborhood of Tampa culminates four years of planning, research and collaboration with property owners, city planners and neighborhood advisory groups.
 "All Kash n' Karry people are excited about the store. It isn't an upscale store, it's a great store that will serve the needs of all income levels with quality and low prices. Everybody loves a bargain and everybody will find one," Floto said.
 The Hyde Park store and other store openings and renovations in the second quarter, together with six additional new store sites under contract for future development, keep the company apace with its market expansion plan, an integral part of its strategic financial plan.
 -0- 3/16/93
 /CONTACT: Raymond P. Springer of Kash n' Karry, 813-621-0274/


CO: Kash n' Karry ST: Florida IN: REA SU:

JJ-JB-AK -- FL010 -- 6491 03/16/93 11:26 EST
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Publication:PR Newswire
Date:Mar 16, 1993
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