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NASH FINCH REPORTS THIRD-QUARTER RESULTS

 MINNEAPOLIS, Nov. 12 /PRNewswire/ -- Nash Finch Company (NASDAQ: NAFC) today reported revenues and net earnings for the fiscal third quarter and 40 weeks ended October 9, 1993.
 Total revenues for the 16-week third quarter rose 9.2 percent to a record $856.6 million, compared to $784.4 million in the third quarter last year. Net earnings for the quarter were $3.0 million, or 27 cents per share, compared with $6.3 million, or 57 cents per share, in 1992. Net earnings were reduced by a total of approximately 24 cents per share due to a $3.6 million increase in reserves for bad debts relating to a bankruptcy filing by a large customer in the Southeast, and a charge taken in connection with the closing of an unprofitable store in Colorado.
 In addition, the retroactive effect of the higher tax rate established by the new federal tax legislation reduced net earnings for the quarter by approximately two cents per share.
 For the 40 weeks, revenues totaled a record $2.09 billion, an increase of 10.9 percent from the $1.88 billion reported in 1992. Net earnings were $10.5 million, or 96 cents per share, compared with $13.3 million, or $1.22 per share, in the same period last year.
 Nash Finch Chairman Harold Finch said, "In spite of the isolated charges absorbed in the third quarter, we are pleased that the Company continues to post record sales results, and that the performance of each of our most recent acquisitions is progressing satisfactorily. At the same time, however, the existence of a sluggish sales environment, food price deflation and heightened competitive pressures at the retail level continue to restrain sales and earnings growth." Results for the quarter were also impacted by the record rain and flooding that affected much of the Company's Midwest trade areas, Finch added.
 Nash Finch is one of the largest food wholesalers in the country, supplying products to approximately 700 affiliated and independent supermarkets and some 5,000 other independent retailers and military bases in 29 states. The Company also owns and operates approximately 100 supermarkets, warehouse stores and mass merchandise stores in 13 states and produce marketing subsidiaries in California.
 NASH FINCH COMPANY
 Condensed Consolidated Statements of Earnings
 (In thousands, except per share data)
 (unaudited)
 16 Weeks Ended 40 Weeks Ended
 10/9/93 10/3/92 10/9/93 10/3/92
 Total sales
 and revenues $856,551 $784,421 $2,088,883 $1,884,175
 Earnings before
 income taxes 5,384 10,217 17,623 21,680
 Income taxes 2,364 3,959 7,137 8,401
 Net earnings $3,020 $6,258 $10,486 $13,279
 Net earnings
 per share $.27 $.57 $.96 $1.22
 Average number
 of shares
 outstanding 10,872 10,872 10,872 10,872
 -0- 11/12/93
 /CONTACT: Norman R. Soland of Nash Finch, 612-844-1153/
 (NAFC)


CO: Nash Finch Company ST: Minnesota IN: FOD SU: ERN

DB-CP -- MN020 -- 3909 11/12/93 17:18 EST
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Publication:PR Newswire
Date:Nov 12, 1993
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