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RICHFOOD'S INCOME UP, CONSOLIDATION IS CITED

RICHMOND, Va. -- Net income at Richfood Holdings here jumped 22.4% for the first quarter, in part due to efficiencies gained from consolidation since last year's acquisition of Super Rite Corp., Harrisburg, Pa.es dipped 1.8% to $753.4 million from $767 million. Excluding the extra week in the prior-year quarter for Super Rite, sales rose 2%, Richfood reported. The increase primarily stemmed from sales

RICHMOND, Va. -- Net income at Richfood Holdings here jumped 22.4% for the first quarter, in part due to efficiencies gained from consolidation since last year's acquisition of Super Rite Corp., Harrisburg, Pa.

es dipped 1.8% to $753.4 million from $767 million. Excluding the extra week in the prior-year quarter for Super Rite, sales rose 2%, Richfood reported. The increase primarily stemmed from sales to customers that have expanded retail operations, greater sales penetration and higher sales in Richfood's Metro/Basics retail division, the company said. Metro/Basics' comparable-store sales were flat in the quarter but, excluding the quarter's extra week a year ago, rose 6% on a total-store basis.

"Our recent formation of four operating business units -- Richfood/Virginia, Richfood/Pennsylvania, Metro/Basics and Richfood Dairy -- has allowed us to centralize certain functions to provide common services to the four units and to avoid redundant overhead," according to Donald D. Bennett, chairman and chief executive officer.

1ST-QUARTER RESULTS

Qtr Ended 7/20/96 7/22/95

Sales $753.4 million $767 million

Change - 1.8%

Net Income $12.4 million $10.2 million

Change + 22.4%

Inc/Share 40 cents 33 cents