Subsequent Events - Hurricane Sandy

3 Months Ended

Oct. 27, 2012

Notes

Subsequent Events - Hurricane Sandy

6.        Hurricane Sandy devastated our area on October 29, 2012, two days after the end of our first fiscal quarter.  The storm increased sales in the last week of our first quarter of fiscal 2013 as customers prepared for the storm. However, almost all our stores were closed for periods of time ranging from a few hours to eight days beginning in the first week of our second fiscal quarter.  In most of our trading areas our customers were similarly affected by a loss of power.  In addition, Village disposed of substantial amounts of perishable product due to the loss of power, and also incurred repair, labor and other costs in connection with the storm.  The Company has property, casualty and business interruption coverage, subject to deductibles.  Village has begun the process of working with our insurers to quantify the damages, a process that will likely take several months.  The Company does not expect the overall impact of the storm, including uninsured losses, to be material to fiscal 2013 results of operations.