DELCHAMPS REPORTS PROFIT, VOLUME DROPPED IN QUARTER

MOBILE, Ala. -- Delchamps here said sales fell more than 6% and merger costs resulted in an earnings loss for the first quarter ended Sept. 27.lowing a tender offer. The deal is expected to close within 30 days, as Jitney seeks to buy up the remaining Delchamps stock.For the 13-week quarter, sales fell 6.1% to $272 million and same-store sales declined 6.3%.The company said it had a net loss for the

MOBILE, Ala. -- Delchamps here said sales fell more than 6% and merger costs resulted in an earnings loss for the first quarter ended Sept. 27.

lowing a tender offer. The deal is expected to close within 30 days, as Jitney seeks to buy up the remaining Delchamps stock.

For the 13-week quarter, sales fell 6.1% to $272 million and same-store sales declined 6.3%.

The company said it had a net loss for the quarter of $1.03 million, which included a charge of $3.5 million for merger expenses. Excluding those expenses, net earnings rose to $2.5 million, compared with $204,000 a year ago.

1st-QUARTER RESULTS

Qtr Ended 9/27/97 9/28/96

Sales $272 million $289.7 million

Change - 6.1%

Same-store - 6.3%

Net Income ($1.03 million) $204,000

Inc/Share (14 cents) 3 cents

Includes charge of $3.5 million for merger expenses.