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LOSS SEEN IN QUARTER, HALF AT HARRY'S FARMERS MARKET

ROSWELL, Ga. -- Harry's Farmers Market here said last week it will open its third Harry's in a Hurry store in December in northwest Atlanta -- and is negotiating for sites for additional stores in metropolitan Atlanta. a situation it attributed to planning, training, installation of new systems and other expenses related to future stores, plus inventory adjustments and lower sales.The loss was $1.7

ROSWELL, Ga. -- Harry's Farmers Market here said last week it will open its third Harry's in a Hurry store in December in northwest Atlanta -- and is negotiating for sites for additional stores in metropolitan Atlanta.

a situation it attributed to planning, training, installation of new systems and other expenses related to future stores, plus inventory adjustments and lower sales.

The loss was $1.7 million for the 13-week quarter and $940,000 for the half, compared with net income in both periods a year ago. Sales fell 6.6% for the quarter to $35.7 million and 2.8% for the half to $69.7 million. Same-store sales fell 5% for the quarter and 2.1% for the half.

The company said sales were down because of the boost sales got a year ago from the 1996 Olympic Games, which lifted second-quarter sales by approximately $700,000.

Other factors contributing to the loss were the $800,000 spent this year to reduce slow-moving nonperishable inventory with markdowns and closeout pricing and the inclusion in last year's second quarter of $200,000 in nonrecurring gains.

2ND-QUARTER RESULTS

Qtr Ended 7/30/97 7/31/96

Sales $35.7 million $38.2 million

Change - 6.6%

Same-store - 5%

Net Income ($1.7 million) $340,000

Inc/Share (28 cents) 5 cents

26 Weeks 1997 1996

Sales $69.7 million $71.7 million

Change - 2.8%

Same-store - 2.1%

Net Income ($940,000) $21,000

Inc/Share (15 cents) 0 cents