ALBERTSON'S OPENS 35 STORES AS SALES INCREASE FOR QUARTER

BOISE, Idaho -- Albertson's here said it opened 35 new stores during the first quarter ended April 30, including 20 from recent acquisitions -- 10 Seessel's Supermarkets in the Memphis market and 10 Smitty's stores in Southwest Missouri. or 45 cents per share, compared with $109.3 million, or 43 cents per share, in the year-ago quarter.Operating results for the quarter were negatively impacted by

BOISE, Idaho -- Albertson's here said it opened 35 new stores during the first quarter ended April 30, including 20 from recent acquisitions -- 10 Seessel's Supermarkets in the Memphis market and 10 Smitty's stores in Southwest Missouri.

or 45 cents per share, compared with $109.3 million, or 43 cents per share, in the year-ago quarter.

Operating results for the quarter were negatively impacted by a $29.4 million charge related to the closing of 16 under-performing stores in eight states in the fiscal year. Excluding the charge, first quarter net earnings would have increased 18.1% to $129.0 million, or 52 cents per share, the company said.

1ST-QUARTER RESULTS

Qtr Ended 4/30/98 5/1/97

Sales $3.8 billion $3.6 billion

Change + 6.7%

Same-store - 0.5%

Net Income $110.6 million $109.3 million

Change + 1.2%

Inc/Share 45 cents 43 cents

Reflects extraordinary charge of $29.4 million related to store closings.