Sales Up 16.8% as Planet Continues its Growth Strategy
EDMONTON, Feb. 11 /CNW/ - Planet Organic Health Corp (TSX Venture
Exchange - POH), Canada's leading natural products retailer, today reported
consolidated sales for the quarter ended December 31, 2008 of $32.1 million
compared to $27.5 million for the same period last year, an increase of 16.8%
or $4.6 million.
The PLANET ORGANIC MARKET division showed same-store sales growth of 8.3%
for the quarter ended December 31, 2008. Total revenues at the division grew
from $13.2 million to $15.4 million, an increase of 16.6%.
MRS. GREEN'S NATURAL MARKET - Planet's U.S. division showed same-store
sales growth of 1.3% for the quarter ended December 31, 2008. In US dollars,
total revenues at the division grew from US$10.9 million to US$11.0 million.
When expressed in Canadian dollars the Company benefitted from the decline of
the Canadian dollar as sales from the Mrs. Green's division increased by 25%
over the same quarter last year.
"We are extremely happy about our Q2 sales results given the current
economic environment in both Canada and the U.S.," reports Darren Krissie,
CFO. "We continue to focus on serving our customers and increasing our
efficiencies as best we can."
The two largest divisions, Planet Organic Market and Mrs. Green's Natural
Market account for almost 90% of total consolidated revenue. The remaining 10%
results from the other divisions being Trophic, Sangster's and Healthy's
(Planet Organic Living). Further analysis of these results will be disclosed
in the MD&A.
Planet Organic Health Corp will be releasing its Q2 financial statements
and MD&A, which will include all financial data, after the close of market
Monday March 2, 2009 with a press release scheduled for the same time.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH) is a natural products industry
company, comprising manufacturing and retail. Planet is listed on the TSX
Venture Exchange as a Tier One company. Planet operates ten natural food
supermarkets throughout Canada under the Planet Organic Market banner and
eleven natural food supermarkets in the U.S. under the Mrs Green's Natural
Markets banner. The Company also operates 43 natural health outlets under the
Sangster's Health Centre banner and eight natural health outlets under the
Healthy's (Planet Organic Living) banner. Another Planet Organic company,
Trophic Canada is the country's leading manufacturer of natural supplements.
The Company has a total of 65 stores throughout Canada and 11 in the U.S.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
Certain information included herein is forward-looking. Forward-looking
statements include, without limitation, statements regarding the future
financial position, business strategy, budgets, projected costs, capital
expenditures, financial results, taxes and plans and objectives of or
involving Planet. Many of these statements can be identified by looking for
words such as "believe", "expects", "expected", "will", "intends", "projects",
"anticipates", "estimates", "continues", or similar words and include but are
not limited to, statements regarding the accretive effects of the acquisition
and the anticipated results and expected benefits of the acquisition upon
closing thereof. Planet Organic believes the expectations reflected in such
forward-looking statements are reasonable but no assurance can be given that
these expectations will prove to be correct and such forward-looking
statements should not be unduly relied upon. Forward-looking statements are
not guarantees of future performance and involve a number of risks and
uncertainties some of which are described in Planet Organic's continuous
disclosure documents. Such forward-looking statements necessarily involve
known and unknown risks and uncertainties and other factors, which may cause
Planet Organic's actual performance and financial results in future periods to
differ materially from any projections of future performance or results
expressed or implied by such forward-looking statements. Such factors include,
but are not limited to: general economic, market and business conditions;
industry capacity; competitive action by other companies; refining and
marketing margins; the ability of suppliers to meet commitments; actions by
governmental authorities including increases in taxes; changes in
environmental and other regulations; and other factors, many of which are
beyond the control of Planet Organic. Any forward-looking statements are made
as of the date hereof and Planet Organic does not undertake any obligation,
except as required under applicable law, to publicly update or revise such
statements to reflect new information, subsequent or otherwise.
For further information:
For further information: Planet Organic Health Corp., Darren Krissie, VP
Corporate Development, CFO, (780) 719-4667