Comps Grow 12% in Q3 for Planet Organic Food Div.

EDMONTON, Alberta, Canada - The food retailing group of natural and organic products retailer Planet Organic Health Corp. saw the strongest performance of its divisions in the third quarter, the company said yesterday.

Overall sales were up 44 percent to $14.6 million for the13-week quarter ending March 31, 2007.

"Same store sales growth at key locations is above expectations," said c.f.o. Darren Krissie.

Planet Organic Markets, the company's food retail division with eight full-service organic food stores, had a 12 percent increase in same-store sales compared to last year. Revenues increased 49 percent to $10.9 million compared to $7.3 million last year.

Trophic Canada, the vitamin manufacturing division of Planet Organic, was the company's second strongest performer, with sales of $2 million for the quarter, and increase of 11 percent over last year.

Sangster's Health Centres, the franchised vitamin store division of Planet Organic, while not performing as strongly as its food retailing counterpart, still saw a 5 percent increase in Q3 sales to $4.4 million, compared to $4.2 million last year. Sangster's same-store sales increased 2 percent to $4.2 million compared to $4.1 million last year.

Healthy's, Planet Organic's seven corporate health centers, was the only division to see a drop in sales, which, at 3 percent less than last year, were $995,199 Q3. However, profit margins were 4 percent.

Planet Organic operates eight natural food supermarkets throughout Canada under the Planet Organic Market banner. The company also operates 50 natural health outlets under the Sangster's Health Centre banner and 7 natural health outlets under the Healthy's banner. Its Trophic Canada is a manufacturer of natural supplements.
This ad will auto-close in 10 seconds