ROANOKE TIMES 

                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: SATURDAY, April 6, 1991                   TAG: 9104060263
SECTION: BUSINESS                    PAGE: A-8   EDITION: METRO 
SOURCE: 
DATELINE:                                 LENGTH: Short

FOOD LION REPORTS NET INCOME GAIN

Food Lion Inc., Friday announced that for the first quarter of fiscal 1991, income before accounting for inventory and income taxes increased 18.2 percent while net income increased 18.3 percent over the first quarter of 1990.

Net sales in 1991 were $1.4 million against $1.2 million in 1990. Net income was $44,000 against $37,000 for the same quarter 1990.

During the first quarter, which ended March 23, the Salisbury, N.C., company opened 16 new stores, and closed two stores, giving it 792. Food Lion also announced that its expansion into Texas is on schedule and that it expects to complete a distribution center in late summer, and to have 40 stores in the Dallas-Fort Worth area opened by late fall.

- Staff report 


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