-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, Py7utgh9GzZ/lUB8eui3ENH7EazXXvH3dkcceCYwzarhIyblEK0iiL0JgmnYwGla zO+16m8AxXTsBc2Iwpz8Ig== 0000906287-98-000169.txt : 19980907 0000906287-98-000169.hdr.sgml : 19980907 ACCESSION NUMBER: 0000906287-98-000169 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 19980904 ITEM INFORMATION: FILED AS OF DATE: 19980904 SROS: AMEX FILER: COMPANY DATA: COMPANY CONFORMED NAME: GIANT FOOD INC CENTRAL INDEX KEY: 0000041289 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 530073545 STATE OF INCORPORATION: DE FISCAL YEAR END: 0222 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-04434 FILM NUMBER: 98704736 BUSINESS ADDRESS: STREET 1: 6300 SHERIFF RD STREET 2: DEPT 593 CITY: LANDOVER STATE: MD ZIP: 20785 BUSINESS PHONE: 3013414100 MAIL ADDRESS: STREET 1: P O BOX 1804 DEPT 593 STREET 2: 6400 SHERIFF ROAD CITY: LANDOVER STATE: MD ZIP: 20785 8-K 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K Current Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report: September 4, 1998 Giant Food Inc. (exact name of registrant as specified in its charter) Delaware 1-4434 53-0073545 (State or other (Commission (I.R.S. Employer jurisdiction File Number) Identification No.) of incorporation) 6300 Sheriff Road, Landover, Maryland 20785 (address of principal executive offices) Registrant's telephone number, including area code: (301) 341-4100 1 Item 5. Other Events. Koninklijke Ahold N.V. ("Royal Ahold") has requested registrant to furnish it with a more detailed breakdown of registrant's unaudited financial information for the 24-week periods ended August 15, 1998 and August 9, 1997 than appeared in registrant's press release dated September 1, 1998. Registrant understands that Royal Ahold intends to use the information in connection with its preparation of an amendment to Royal Ahold's Form F-3 registration statement relating to a financing in connection with its acquisition of registrant. A copy of the information furnished to Royal Ahold is filed herewith. 2 GIANT FOOD INC CONDENSED CONSOLIDATED BALANCE SHEET ($ in Thousands)
Current Prior Year Assets 08/15/98 08/09/97 -------- -------- Cash and Cash Equivalents $47,480 $31,471 Short Term Investments 192,975 142,262 Inventories (FIFO) 347,732 339,310 LIFO Provision 94,943 91,778 ------ ------ Inventories (LIFO) 252,789 247,532 Accounts Receivable 64,856 59,520 Other Current Assets 25,856 33,393 ------ ------ Total Current Assets 583,956 514,178 Property, Plant and Equipment 1,558,037 1,528,045 Accum depreciation 718,811 690,428 ------- ------- Property, Plant and Equipment (Net) 839,226 837,617 Property under Capital Leases 194,481 182,850 Accum amortization 80,918 74,066 ------ ------ Property under Capital Leases (Net) 113,563 108,784 Other Assets 17,601 23,371 ------ ------ Total Assets $1,554,346 $1,483,950 ========== ========== Liabilities & Shareholders' Equity Account Payables $249,190 $229,494 Current portion Notes & Mortgages 1,951 6,861 Current portion Capital Leases 7,173 6,083 Other Current Liabilities 105,548 96,365 3 Long Term Notes & Mortgages 25,566 37,518 Long-term - Obligations under Capital Leases 152,989 147,623 Deferred taxes 22,368 12,708 Accrued insurance claims 34,334 37,482 Other long-term liabilities 31,123 32,913 Common Stock 60,506 60,257 Capital in excess of par 7,534 2,415 Net unrealized (loss) on investments (128) (399) Treasury stock (1,766) (3,576) Retained earnings 857,958 818,206 ------- ------- Total Liabilities and Equity $1,554,346 $1,483,950 ========== ==========
4 GIANT FOOD INC CONDENSED CONSOLIDATED SALES AND EARNINGS ($ in Thousands)
24 WKS 24 WKS 08/15/98 08/09/97 Sales $1,947,304 $1,863,718 LIFO Charge 1,710 0.09% 1,770 0.09% Cost of Goods Sold (FIFO) 1,371,376 70.42% 1,341,197 71.96% --------- ------ --------- ------ Gross Profit 574,218 29.49% 520,751 27.94% Operating Expenses1 515,365 26.47% 486,330 26.09% ------- ------ ------- ------ Operating Income 58,853 3.02% 34,421 1.85% Capital Lease Adjustment (7,289) -0.37% (6,916) -0.37% Interest Exp/Notes 1,257 0.06% 1,232 0.07% Interest Exp/Leases 7,937 0.41% 7,612 0.41% Interest Income (5,272) -0.27% (4,696) -0.25% ------- ------ ------- ------ Net Interest Expense 3,922 0.20% 4,148 0.22% Pre Tax Income 62,220 3.20% 37,189 2.00% Taxes 23,475 1.21% 14,636 0.79% ------ ----- ------ ----- Net Income 38,745 1.99% $22,553 1.21% ====== ===== ======= ===== Earnings per share: Basic $ .64 $ .38 ============= =============== Diluted $ .64 $ .38 ============== ===============
- -------- 1 "In connection with the sale of Giant Food, Giant Food will incur investment banking fees of approximately $13.5 million. Giant Food will expense such fees upon receiving FTC approval for its sale." 5 Signatures Pursuant to the requirements of the Securities and Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GIANT FOOD INC. September 4, 1998 By: /s/ Mark H. Berey ------------------ Mark H. Berey Senior Vice President, Treasurer, Chief Financial Officer 6 -----END PRIVACY-ENHANCED MESSAGE-----