REMODELS, NEW STORES BOOST VILLAGE SALES

SPRINGFIELD, N.J. -- Strong sales performances from new and remodeled stores helped Village Super Market here post a 3.6% sales gain and earnings growth of 45% for its fiscal third quarter ended April 24, the company said.a year ago. Net income of $2.7 million, or 87 cents a share, increased primarily due to strong sales growth and profit percentages, slightly offset by higher operating expenses.

SPRINGFIELD, N.J. -- Strong sales performances from new and remodeled stores helped Village Super Market here post a 3.6% sales gain and earnings growth of 45% for its fiscal third quarter ended April 24, the company said.

a year ago. Net income of $2.7 million, or 87 cents a share, increased primarily due to strong sales growth and profit percentages, slightly offset by higher operating expenses. For the nine-month period, Village reported earnings of $8.9 million, up 6%, on sales of $698.5 million, which increased 4%.

Village, a member of the Wakefern Food Cooperative, operates 23 ShopRite supermarkets in New Jersey and eastern Pennsylvania.

3RD-QUARTER RESULTS

Qtr Ended: 4/24/04; 4/26/03

Sales: $229.5 million; $221.5 million

Change: +3.6%

Comp-store: +3.6%

Net Income: $2.7 million; $1.9 million

Change: +45%

Inc/Share: 87 cents; 60 cents

39 Weeks: 2003; 2002

Sales: $698.5 million; $671.9 million

Change: +4%

Net Income: $8.9 million; $8.4 million

Change: +6%

Inc/Share: $2.87; $2.72