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SEAWAY HITS SALES RECORD, PROFIT CLIMBS

MAUMEE, Ohio -- Seaway Food Town here said sales for the second quarter rose 2% to a quarterly record of $155.9 million from $152.8 million in the year-ago quarter. Net earnings for the quarter were $1.85 million, or 84 cents per share, compared with $1.46 million, or 66 cents per share, in the previous year. compared with $12.2 million, or 4.11% of sales, for the first six months of 1996.Capital

MAUMEE, Ohio -- Seaway Food Town here said sales for the second quarter rose 2% to a quarterly record of $155.9 million from $152.8 million in the year-ago quarter. Net earnings for the quarter were $1.85 million, or 84 cents per share, compared with $1.46 million, or 66 cents per share, in the previous year.

compared with $12.2 million, or 4.11% of sales, for the first six months of 1996.

Capital expenditures for the first six months of 1997 were $9.9 million, which the company said is on target with the $20 million forecast for the year.

Seaway Food Town operates 43 supermarkets, 25 of which are large Food Town Plus combination stores, and 24 Pharm Discount Drugstores, mainly in central Ohio and southeastern Michigan.

2ND-QUARTER RESULTS

Qtr Ended 3/1/97 2/24/96

Sales $155.9 million $152.8 million

Change + 2.0%

Net Income $1.85 million $1.46 million

Change + 26.2%

Inc/Share 84 cents 66 cents

26 Weeks 1997 1996

Sales $303.8 million $297.0 million

Change + 2.2%

Net Income $2.8 million $1.9 million

Change + 48.3%

Inc/Share $1.29 87 cents