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VOLUME AT GIANT FOOD GROWS IN QUARTER, YEAR

LANDOVER, Md. -- Giant Food here said an aggressive promotional program boosted sales for the quarter and fiscal year ended Feb. 25. The company also detailed plans for an 18-unit expansion over the next 18 months.For fiscal 1995, Giant had sales of $3.7 billion, a 3.6% increase over the prior year. Earnings for 52 weeks fell slightly to $94.2 million. The previous year's income included a one-time

LANDOVER, Md. -- Giant Food here said an aggressive promotional program boosted sales for the quarter and fiscal year ended Feb. 25. The company also detailed plans for an 18-unit expansion over the next 18 months.

For fiscal 1995, Giant had sales of $3.7 billion, a 3.6% increase over the prior year. Earnings for 52 weeks fell slightly to $94.2 million. The previous year's income included a one-time gain of $3.9 million for an income tax accounting change.

For the 16-week quarter, sales were $1.2 billion, up 3.9% from a year earlier. Earnings for the quarter were $40.5 million, an 11.6% increase over the prior year.

As reported, the company opened four new combination food and drug stores during the year, including its first Delaware unit.

Giant -- which operates 161 stores throughout the Mid-Atlantic region -- plans to build 18 new food and drug stores of at least 60,000 square feet each through fiscal 1997.

The company previously said it would open seven stores this year -- including four in the Washington metro area, one in Baltimore, a second unit in Bear, Del., and a store in Cherry Hill, N.J., as reported. Last week, the company disclosed plans to open four additional stores and begin construction on at least seven others over the next 18 months. These include five sites in New Jersey (Washington, Mount Laurel, Gloucester, Medford and Winslow); four in Pennsylvania (Hilltown, Lower Makefield, Lower Providence and Warminster), and two more in the Washington metro area.

Giant also said it will expand four existing stores this year (two in Baltimore, one in Herndon, Va., and one in Bowie, Md.). The expansions and remodels are expected to add approximately 480,000 square feet, or 7%, to Giant's total store space.

4th-QUARTER RESULTS

Qtr Ended 2/25/95 2/26/94

Sales $1.2 billion $1.16 billion

Change +3.9%

Same-store +1.5%

Net Income $40.5 million $36.3 million

Change +11.6%

Inc/Share 69 cents 61 cents

52 Weeks 1995 1994

Sales $3.7 billion $3.6 billion

Change +3.6%

Same-store +0.9%

Net Income $94.2 million $95.2 million

Change -1%