SEAWAY FOOD TOWN HAS RECORD RESULTS IN QUARTER

MAUMEE, Ohio -- Seaway Food Town here said sales and earnings rose to record levels for the second quarter ended Feb. 27.e-store sales were up 5.9%.For the half, sales increased 4.2% to $327 million and net income jumped 8% to $3.7 million, while comparable-store sales rose 3.9%.Richard B. Iott, president and chief executive officer of the 70-store chain, said sales got a boost from bad weather "and

MAUMEE, Ohio -- Seaway Food Town here said sales and earnings rose to record levels for the second quarter ended Feb. 27.

e-store sales were up 5.9%.

For the half, sales increased 4.2% to $327 million and net income jumped 8% to $3.7 million, while comparable-store sales rose 3.9%.

Richard B. Iott, president and chief executive officer of the 70-store chain, said sales got a boost from bad weather "and have been kept very strong by some very effective promotional activity, while earnings improved along with the increase in sales."

He said the company closed and sold its former health and beauty aids warehouse during the second quarter and converted another facility to a slow-moving item warehouse for extended buy items plus HBA, "and those operations are going very smoothly."

2nd-QUARTER RESULTS

Qtr Ended 2/27/99 2/28/98

Sales $170.4 million $159.9 million

Change + 6.5%

Comp-store + 5.9%

Net Income $2.3 million $2.1 million

Change + 10.9%

Inc/share 35 cents 31 cents

26 Weeks 1999 1998

Sales $327.0 million $313.9 million

Change + 4.2%

Comp-store + 3.9%

Net Income $3.7 million $3.5 million

Change + 8.0%

Inc/Share 56 cents 52 cents