Printer Friendly

SUNSHINE-JR. STORES, INC. ANNOUNCES SECOND QUARTER PROFITS

 PANAMA CITY, Fla., Aug. 6 /PRNewswire/ -- Sunshine-Jr. Stores, Inc. (AMEX: SJS) reported today sales and earnings for the quarter ending July 1, 1993. The company reported an unaudited net profit of $170,786, or $.11 per share, compared to a net profit of $239,009 or $.14 per share, for the comparable period of 1992. Earnings for the second quarter of 1993, before costs associated with the bankruptcy reorganization, were $889,554, an increase of $650,545 over the comparable period of 1992. The company filed for Chapter 11 bankruptcy protection on Dec. 18, 1992. Second quarter total sales were $58,194,874 in 1993 compared to $58,643,228 in 1992. The foregoing results for the second quarter of 1993 included an average of 276 convenience stores and four supermarkets compared to an average 288 convenience stores and four supermarkets in 1992. Same store merchandise sales for the convenience stores in the second quarter of 1993 increased by 6.1 percent over 1992, and same store gasoline gallons sold increased by 6.4 percent.
 For the 26 weeks ending July 1, 1993 the company reported an unaudited net loss of $1,320,906, or $.77 per share, compared to a net loss of $403,805, or $.24 per share, for the comparable period of 1992. Year to date earnings before costs associated with the bankruptcy reorganization were $451,864, an improvement of $855,669 over the comparable period of 1992. Total sales for the 26 weeks were $107,468,818 in 1993 compared to $110,265,859 in 1992. The foregoing year to date results for 1993 included an average of 279 convenience stores and four supermarkets compared to an average of 290 convenience stores and four supermarkets in 1992.
 Sunshine-Jr. Stores operates, as debtor-in-possession under Chapter 11 of the Bankruptcy Code, approximately 275 convenience stores located in Florida, Alabama, Mississippi, Georgia, and Louisiana, and four supermarkets in and around Panama City, Fla.
 -0- 8/6/93
 /CONTACT: Scott Coffman of Sunshine-Jr. Stores, Inc., 904-769-1661/
 (SJS)


CO: Sunshine-Jr. Stores, Inc. ST: Florida IN: REA SU: ERN

RC-AW -- FL006 -- 0417 08/06/93 16:31 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 6, 1993
Words:356
Previous Article:PSH MASTER L.P. I ANNOUNCES SECOND QUARTER 1993 RESULTS
Next Article:DELTONA REPORTS SECOND QUARTER LOSS
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters