village super market-class b (VLGEB) Snapshot

Village Super Market Inc. declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be payable on July 25, 2013 to shareholders of record at the close of business on July 2, 2013.

Village Super Market Inc. reported consolidated unaudited earnings results for the third quarter and nine months ended April 27, 2013. For the quarter, the company reported sales of $359,808,000 compared with $347,009,000 for the same period last year. Operating income was $8,150,000 compared with $11,606,000 for the same period last year. Interest income was $704,000 compared with $652,000 for the same period last year. Income before income taxes was $7,910,000 compared with $11,181,000 for the same period last year. Net income was $4,622,000 or $0.33 diluted per share compared with $6,543,000 or $0.47 diluted per share for the same period last year. The sales increase is attributable to same store sales, as the Old Bridge, NJ store, acquired on January 29, 2012, is now included in same store sales. Same store sales increased due to higher sales in the two stores in Maryland, higher sales in one remodeled store and modest inflation. Sales continue to be impacted by economic weakness, high gas prices and high unemployment, which have resulted in increased sale item penetration and trading down. For the nine months, the company reported sales of $1,100,134,000 compared with $1,052,384,000 for the same period last year. Operating income was $33,070,000 compared with $40,079,000 for the same period last year. Interest income was $2,068,000 compared with $38,645,000 for the same period last year. Income before income taxes was $33,702,000 compared with $38,645,000 for the same period last year. Net income was $19,581,000 or $1.40 diluted per share compared with $22,426,000 or $1.63 diluted per share for the same period last year. Sales increased due to the acquisition of the Old Bridge store and a same store sales increase of 3.2%. Same store sales increased due to higher sales as customers prepared for hurricane Sandy, improved sales at the stores that reopened quickly after the storm, higher sales in the two stores in Maryland and modest inflation. Net income declined 16% compared to the prior year primarily due to lower gross profit percentages and higher operating expenses as a percentage of sales, partially offset by reduced losses in the two Maryland stores compared to the nine-month period of the prior year, which was their initial nine months of operations. Maryland stores sales and operating performance remain lower than expected as continue to build market share and brand awareness. The company expects same store sales in fiscal 2013 to increase from 2.75% to 3.50%.

The Board of Directors of Village Super Market Inc. declared quarterly cash dividends of $0.25 per Class A common share and $0.1625 per Class B common share. The dividends will be payable on April 25, 2013 to shareholders of record at the close of business on April 2, 2013.