Printer Friendly

VONS ESTIMATES FIRST QUARTER 1993 SAME-STORE SALES

 ARCADIA, Calif., March 17 /PRNewswire/ -- In its Form 10-K filed today with the Securities and Exchange Commission, The Vons Companies Inc. estimated that same-store sales for the first quarter of 1993 are expected to decline approximately 8 percent, vs. the prior-year first quarter. Factors affecting the sales decrease include difficult economic conditions, ongoing competitive new store and remodel activity, recent pricing and promotional changes by competitors and adverse publicity associated with the Jack In The Box food poisoning epidemic. Despite the same-store sales decrease, the company does not expect operating earnings (earnings before extraordinary item and cumulative effect of change in accounting) or cash flow for the first quarter of 1993 to decline materially, vs. the 1992 first quarter.
 "While the sales environment in the first quarter has been more difficult than expected, I am pleased with our company's ability to effectively control margins and costs in seeking to preserve earnings and cash flow," said Roger E. Stangeland, chairman and chief executive officer.
 Vons is the largest supermarket operator in Southern California. The company operates 346 stores under the Vons, Pavilions, Tianguis and William Bros. names.
 -0- 3/17/93
 /CONTACT: Mary M. McAboy of The Vons Companies, 818-821-7897/
 (VON)


CO: The Vons Companies Inc. ST: California IN: REA SU: ERP

BP-JL -- LA010 -- 6881 03/17/93 08:32 EST
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:Mar 17, 1993
Words:220
Previous Article:CARNIVAL CRUISE LINES, DOLPHIN CRUISE LINE AND EPIROTIKI LINES ANNOUNCE AGREEMENT TO OPERATE VESSEL IN EUROPE
Next Article:LTX ANNOUNCES FINANCIAL RESULTS FOR SECOND QUARTER
Topics:


Related Articles
VONS REPORTS FIRST QUARTER 1993 RESULTS
VONS REPORTS SECOND QUARTER RESULTS
VONS REPORTS SECOND QUARTER RESULTS
VONS ANNOUNCES THIRD QUARTER 1993 EARNINGS
VONS REPORTS 1993 YEAR END RESULTS
VONS REPORTS FIRST QUARTER RESULTS
VONS ANNUAL MEETING HIGHLIGHTS
PAVILIONS STORES TO EXPAND; EXPO STORES TO CLOSE
Every little helps Tesco sales rise.

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