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HANNAFORD VOLUME, NET RISE
SCARBOROUGH, Maine -- Hannaford Bros. here reported increased sales and earnings for the second quarter and six months ended July 1.For the quarter, sales and other revenues -- including sales from Wilson's Supermarkets, Wilmington, N.C., which Hannaford acquired in July 1994 -- were $634.8 million, a 17.9% increase over last year. For the six-month period, sales and other revenues, including Wilson's,
Glen A. Beres
August 7, 1995
2 Min Read
GLEN A. BERES
SCARBOROUGH, Maine -- Hannaford Bros. here reported increased sales and earnings for the second quarter and six months ended July 1.
For the quarter, sales and other revenues -- including sales from Wilson's Supermarkets, Wilmington, N.C., which Hannaford acquired in July 1994 -- were $634.8 million, a 17.9% increase over last year. For the six-month period, sales and other revenues, including Wilson's, increased 16.7% to $1.23 billion.
Excluding sales from Wilson's, Hannaford's sales and other revenues were up 7.4% for the second quarter and 6.3% for the six months. The quarter and half were also boosted by Easter sales, which were included in the second quarter this year, but appeared in the first quarter in 1994.
Net income for the quarter was $19 million, up 23.5% over the same quarter in 1994. Net income for six months was $33.6 million, an increase of 26.9% over last year.
Hugh G. Farrington, president and chief financial officer, said, "Since Easter holiday sales were in the second quarter this year and the first quarter last year, our same-store sales for the period were up 3.2%. Adjusting for estimated Easter sales, same-store sales increased about 1.9% in the quarter. Our same-store sales for the six-month period were up 1.5%."
Farrington also said that the 1995 store opening schedule "is heavily weighted toward the end of the year and toward entering new markets in the Southeast. These factors will impact the quarterly mix of earnings in 1995 from that of prior years."
As reported, the company is scheduled to open seven stores in four new Southeastern markets this year and three to four relocated stores in the Northeast. The expansion will cost an estimated $170 million, according to the company.
