FARM FRESH SALES, NET SLIDE

NORFOLK, Va. -- Due in part to stores sold, Farm Fresh here reported sales decreases plus net losses for the second quarter and half ended June 15.

ales decreases, Farm Fresh said, stemmed from the sale of stores in Richmond, Va., to Hannaford Bros., Scarborough, Maine. The chain suffered a $1.8 million net loss in the quarter vs. a $1.3 million loss a year earlier.

Earnings before interest, taxes, depreciation and amortization in the quarter were $10.7 million (5.95% of sales), down 11% from $12 million (5.6% of sales) a year earlier. EBITDA for the half dropped 10.6% to $19.7 million (5.5% of sales) from $22.1 million (5.2% of sales) a year before.

2ND-QUARTER RESULTS

Qtr Ended 6/15/96 6/17/95

Sales $180 million $214.7 million

Change - 16.1%

Same-store - 0.2%

Net Income ($1.8 million) ($1.3 million)

24 Weeks 1996 1995

Sales $359 million $422.9 million

Change - 15.1%

Same-store + 1.6%

Net Income ($5 million) ($5 million)