THIRD QUARTER 2007 HIGHLIGHTS

• The Company realized net earnings of $89.3 million compared to $85.1 million, an increase of 4.9%. Fully diluted net earnings per share reached $0.77, up 5.5% from $0.73.
• Excluding non-recurring items recorded in the third quarter of 2007 and 2006, adjusted net earnings⁽¹⁾ for the third quarter of 2007 would have been $91.1 million, an increase of 16.3%, and adjusted fully diluted net earnings per share⁽¹⁾ would have been $0.78, an increase of 14.7%. Non-recurring items include integration and rationalization costs of $5.4 million before taxes for the third quarter of 2007 and $3.9 million before taxes for the corresponding quarter of 2006, as well as third quarter income tax expense decrease of $1.8 million in 2007 and $9.4 million in 2006.
• Sales increased 0.1% to $3,341 million. Excluding decreased sales of tobacco products and lost sales due to the disposal, in the fourth quarter of 2006, of our interest in a grocery wholesaler, sales would have increased by 3.2%. Same-store sales increased by 2.1%. 
• During the third quarter, we continued the integration of A&P Canada and recorded synergies of $27.9 million compared to $15.5 million in the same quarter last year.

Please look at our Press Release (.pdf)