-----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, TNoYwtc8X0BqZd457RxvZM5CE0cU1uNAFnnnqykZONjTsts5KTnaelbJFMY4Jcsr zM2/UinX/Il6lyWzsCmVdg== 0000864760-97-000027.txt : 19971218 0000864760-97-000027.hdr.sgml : 19971218 ACCESSION NUMBER: 0000864760-97-000027 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19971102 FILED AS OF DATE: 19971217 SROS: NONE FILER: COMPANY DATA: COMPANY CONFORMED NAME: PAMIDA INC /DE/ CENTRAL INDEX KEY: 0000808304 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-VARIETY STORES [5331] IRS NUMBER: 470626426 STATE OF INCORPORATION: DE FISCAL YEAR END: 0202 FILING VALUES: FORM TYPE: 10-Q SEC ACT: SEC FILE NUMBER: 033-57990 FILM NUMBER: 97739611 BUSINESS ADDRESS: STREET 1: 8800 F ST CITY: OMAHA STATE: NE ZIP: 68127 BUSINESS PHONE: 4023392400 MAIL ADDRESS: STREET 1: P O BOX 3856 CITY: OMAHA STATE: NE ZIP: 68103-0856 10-Q 1 SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q QUARTERLY REPORT PURSUANT TO SECTION 13 OR [X] 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended NOVEMBER 2, 1997 Commission File Number 33-57990 PAMIDA, INC ------------------------------------------------------ (Exact name of registrant as specified in its charter) Delaware 47-0626426 - ------------------------------- ---------------------- (State or other jurisdiction of (IRS Employer incorporation or organization) Identification Number) 8800 "F" Street, Omaha, Nebraska 68127 - ---------------------------------------- ---------- (Address of principal executive offices) (Zip Code) (402) 339-2400 ---------------------------------------------------- (Registrant's telephone number, including area code) Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports) and (2) has been subject to such filing requirements for the past 90 days. YES [X] NO [ ] Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date: Class of Common Stock Outstanding at November 14, 1997 - --------------------- -------------------------------- Common Stock 1,000 Shares PART I - FINANCIAL INFORMATION ITEM 1. FINANCIAL STATEMENTS
PAMIDA INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Dollars in Thousands) (Unaudited) November 2, February 2, 1997 1997 ASSETS: ----------- ----------- Current assets: Cash $ 9,022 $ 6,973 Accounts receivable, less allowance for doubtful accounts of $50 10,302 6,935 Merchandise inventories 187,243 157,490 Prepaid expenses 3,618 2,993 Property held for sale -- 1,748 -------- -------- Total current assets 210,185 176,139 Property, buildings and equipment, less accumulated depreciation and amortization of $66,639 and $61,364 42,922 42,403 Leased property under capital leases, less accumulated amortization of $16,548 and $14,604 25,769 27,713 Deferred financing costs 2,903 3,124 Other assets 21,059 19,773 -------- -------- $302,838 $269,152 LIABILITIES AND STOCKHOLDER'S EQUITY: Current liabilities: Accounts payable $ 85,232 $ 54,245 Loan and security agreement 57,111 57,115 Accrued compensation 5,802 3,860 Accrued interest 2,684 6,857 Store closing reserve 1,532 4,521 Other accrued expenses 15,795 10,112 Income taxes - deferred and current payable 12,713 8,956 Current maturities of long-term debt 47 47 Current obligations under capital leases 1,733 1,781 -------- -------- Total current liabilities 182,649 147,494 Long-term debt, less current maturities 140,329 140,364 Obligations under capital leases, less current obligations 32,711 33,999 Other long-term liabilities 5,458 4,825 Commitments and contingencies -- -- Common stockholder's equity: Common stock, $.01 par value; 10,000 shares authorized; 1,000 shares issued and outstanding, -- -- Additional paid-in capital 17,000 17,000 Accumulated deficit (75,309) (74,530) -------- -------- Total common stockholder's equity (58,309) (57,530) -------- -------- $302,838 $269,152 ======== ========
See notes to consolidated financial statements.
PAMIDA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS (Dollars in Thousands) (Unaudited) THREE MONTHS ENDED NINE MONTHS ENDED ------------------------ ------------------------ November 2, October 27, November 2, October 27, 1997 1996 1997 1996 ---------- ---------- ---------- ----------- Sales $158,749 $151,980 $466,530 $439,583 Cost of goods sold 120,895 115,534 353,906 334,466 -------- -------- -------- -------- Gross profit 37,854 36,446 112,624 105,117 -------- -------- -------- -------- Expenses: Selling, general and administrative 29,876 28,815 94,116 89,272 Interest 6,327 6,318 19,287 18,458 -------- -------- -------- -------- 36,203 35,133 113,403 107,730 -------- -------- -------- -------- Income (loss) before income tax provision (credit) 1,651 1,313 (779) (2,613) Income tax provision -- -- -- -- -------- -------- -------- -------- Net income (loss) $ 1,651 $ 1,313 $ (779) $ (2,613) ======== ======== ======== ========
See notes to consolidated financial statements.
PAMIDA, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF CASH FLOWS (Dollars in Thousands) (Unaudited) NINE MONTHS ENDED ------------------------ November 2, October 27, 1997 1996 ----------- ----------- CASH FLOWS FROM OPERATING ACTIVITIES: Net loss $ (779) $ (2,613) --------- --------- Adjustments to reconcile net loss to net cash from operating activities: Depreciation and amortization of fixed assets and intangibles 8,881 8,427 Provision for LIFO inventory valuation 716 450 Gain on disposal of assets (139) (40) Increase in merchandise inventories (30,469) (33,246) Increase in other operating assets (8,046) (6,322) Increase in accounts payable 30,987 27,440 Increase (decrease) in other operating liabilities 7,507 (5,998) Decrease in store closing reserve (2,654) (4,663) --------- --------- Total adjustments 6,783 (13,952) --------- --------- Net cash from operating activities 6,004 (16,565) --------- --------- CASH FLOWS FROM INVESTING ACTIVITIES: Proceeds from disposal of assets 1,969 795 (Increase) decrease in constructed stores to be refinanced through lease financing 1,794 (5,207) Capital expenditures (6,131) (4,521) Assets acquired for sale, net -- (391) Other 13 12 --------- --------- Net cash from investing activities (2,355) (9,312) --------- --------- CASH FLOWS FROM FINANCING ACTIVITIES: Borrowings under loan and security agreement, net (4) 31,209 Principal payments on capital lease obligations (1,336) (1,367) Payments for deferred finance costs (225) (50) Principal payments on long-term debt (35) (1,323) --------- --------- Net cash from financing activities (1,600) 28,469 --------- --------- Net increase in cash 2,049 2,592 Cash at beginning of year 6,973 7,298 --------- --------- Cash at end of period $ 9,022 $ 9,890 ========= ========= SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: (1) Cash paid (received) during the period for: Interest $ 23,460 $ 22,317 Income taxes: Payments to taxing authorities 42 312 Refunds received from taxing authorities (3,798) (170)
See notes to consolidated financial statements. PAMIDA INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED NOVEMBER 2, 1997 AND OCTOBER 27, 1996 (Unaudited) (Dollars in Thousands) 1. MANAGEMENT REPRESENTATION The accompanying unaudited consolidated financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information. In the opinion of management, all adjustments necessary for a fair presentation of the results of operations for the interim periods have been included. All such adjustments are of a normal recurring nature. Because of the seasonal nature of the business, results for interim periods are not necessarily indicative of a full year's operations. The accounting policies followed by Pamida Inc. (the "Company") and additional footnotes are reflected in the consolidated financial statements contained in the Form 10-K Annual Report of the Company for the fiscal year ended February 2, 1997. 2. INVENTORIES Substantially all inventories are stated at the lower of cost (last-in, first-out) or market. Total inventories would have been higher at November 2, 1997 and February 2, 1997 by $7,290 and $6,574 respectively, had the FIFO (first-in, first-out) method been used to determine the cost of all inventories. Quarterly LIFO inventory determinations reflect assumptions regarding fiscal year-end inventory levels and the estimated impact of annual inflation. Actual inventory levels and annual inflation could vary from estimates made on a quarterly basis. 3. RECLASSIFICATIONS Certain reclassifications have been made to the prior year's financial statements to conform to the current year's presentation. ITEM 2 - MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS (Dollars in Thousands) The following is management's discussion and analysis of certain significant factors which have affected the Company's results of operations and financial condition for the periods included in the accompanying consolidated financial statements. RESULTS OF OPERATIONS The following table sets forth an analysis of various components of the Consolidated Statements of Operations as a percentage of sales for the three and nine months ended November 2, 1997 and October 27, 1996: Three Months Ended Nine Months Ended ----------------------------------------- Nov. 2, Oct.27, Nov. 2, Oct.27, 1997 1996 1997 1996 --------- --------- -------- -------- Sales 100.0% 100.0% 100.0% 100.0% Cost of goods sold 76.2% 76.0% 75.9% 76.1% --------- --------- -------- -------- Gross profit 23.8% 24.0% 24.1% 23.9% Selling, general and administrative expenses 18.8% 19.0% 20.2% 20.3% --------- --------- -------- -------- Operating income 5.0% 5.0% 3.9% 3.6% Interest expense 4.0% 4.1% 4.1% 4.2% --------- --------- -------- -------- Income (loss) before income taxes 1.0% 0.9% (0.02%) (0.6%) Income taxes -- -- -- -- --------- --------- -------- -------- Net income (loss) 1.0% 0.9% (0.02%) (0.6%) ========= ========= ======== ======== SALES - During the third quarter and first nine months of fiscal 1998, sales in comparable stores increased $6,071 or 4.1% and $19,849 or 4.7%, respectively, as compared to the third quarter and first nine months last year. Total sales for the third quarter and the first nine months of fiscal 1998 increased by $6,769 or 4.5% and $26,947 or 6.1%, respectively, as compared to the same periods last year. The Company operated 149 stores at the end of the third quarter of both fiscal 1998 and 1997. Since October 27, 1996, the Company has opened one store in a new market, relocated two stores and closed one store. The Company experienced sales increases in most merchandise categories during the third quarter of fiscal 1998 even though sales were adversely affected by an unseasonably warm September. The largest dollar increases were in the pharmacy prescriptions, candy, women's shoes, housewares, seasonal, appliances, electrical and groceries categories. The Company experienced sales declines in several categories, with men's fashions, automotive, boy's fashions and lawn and garden experiencing the largest decreases. GROSS PROFIT increased $1,408 or 3.9% and $7,507 or 7.1% for the third quarter and first nine months, respectively, of fiscal 1998 compared to the same periods last year. As a percentage of sales, gross profit decreased to 23.8% from 24.0% for the third quarter and increased to 24.1% from 23.9% for the first nine months of fiscal 1998 compared to the same periods last year. The Company improved its in-stock positions in most merchandise categories during the third quarter of fiscal 1998 as compared with the third quarter of fiscal 1997. Sales improved in most merchandise categories during the first nine months of the year as compared with the same period last year, with a marked increase in sales of higher margin basic goods which experienced substantial out-of-stocks during the second and third quarters last year. Also, the Company realized substantial decreases in warehousing and distribution costs during the first nine months of fiscal 1998 compared to last year. During the second and third quarters last year, the Company incurred higher than normal labor costs in the warehouse and distribution areas due to implementation issues related to a warehouse management system. The decrease in gross profit as a percent of sales during the third quarter was due primarily to an increased LIFO provision this year compared to last year's third quarter. No other items contributed significantly to the decrease. SELLING, GENERAL AND ADMINISTRATIVE (SG&A) Expense increased $1,061 or 3.7% for the third quarter of fiscal 1998 compared to the third quarter of fiscal 1997 and increased $4,844 or 5.4% for the first nine months of fiscal 1998 compared to the same period last year. As a percentage of sales, SG&A expense was 18.8% and 19.0%, respectively, for the third quarter of fiscal 1998 and 1997. As a percentage of sales, SG&A expense was 20.2% and 20.3%, respectively, for the first nine months of fiscal 1998 and 1997. Most of the total net increase in SG&A expense for the third quarter of fiscal 1998 as compared to the third quarter last year was attributable to higher corporate general and administrative expenses, primarily involving planned increases in payroll and incentive compensation. Store occupancy costs also increased over last year to accommodate the higher sales activity. Most of the total net increase in SG&A expense for the first nine months of fiscal 1998 as compared to the first nine months of last year was attributable to higher corporate general and administrative expenses, primarily involving increases in payroll, incentive compensation expenses and professional fees. Store payroll, occupancy and controllable costs also increased over last year to accommodate the higher sales activity. These increases were offset partially by a $183 increase in other income primarily due to a gain on the sale of a parcel of land and business interruption insurance settlements related to two stores. INTEREST expense increased $9 or 0.1% for the third quarter of fiscal 1998 compared to the same period of fiscal 1997 and increased $829 or 4.5% for the first nine months of fiscal 1998 compared to the same period of fiscal 1997. The increases were due primarily to increased revolver borrowings to support higher investments in basic inventory and the Company's seasonal operating pattern. INCOME TAX BENEFIT - No income tax benefit on losses will be recorded until the Company can establish with a reasonable degree of certainty the potential utilization of certain tax loss carryforwards from prior year store closing charges. LIQUIDITY AND CAPITAL RESOURCES The Company's business is seasonal with first quarter sales (February through April) being lower than sales during the other three quarters. Fourth quarter sales (November through January) have represented approximately 30% of the full year's sales in recent years and normally involve a greater proportion of higher margin sales. Funds provided by operating activities were $6,004 in the first nine months of fiscal 1998 compared to funds used totaling $16,565 in the first nine months of fiscal 1997. This $22,569 improvement in net cash generated by operating activities during the first nine months of fiscal 1998 resulted primarily from changes in other operating liabilities, accrued compensation, and accounts payable as well as increases in inventories and improvements in operations. Effective March 17, 1997, the term of the Company's committed Loan and Security Agreement (the Agreement) was extended to March 2000 and the maximum borrowing limit of the facility was increased to $95,000. Prior to March 17, 1997, borrowings under the Agreement bore interest at a rate of 0.75% per annum greater than the applicable prime rate. Effective March 17, 1997, borrowings under the Agreement bear interest at a rate 0.50% per annum greater than the applicable prime rate or a rate which is tied to the London Interbank Offered Rate (LIBOR), generally at the Company's discretion. The amounts the Company is permitted to borrow are determined by a formula based upon the amount of the Company's eligible inventory. Such borrowings are secured by security interests in all of the current assets (including inventory) of the Company and by liens on certain real estate interests and other property of the Company. Pamida Holdings Corporation (Holdings) and two subsidiaries of the Company have guaranteed the payment and performance of the Company's obligations under the Agreement and have pledged some or all of their respective assets, including the stock of the Company owned by Holdings, to secure such guarantees. The Agreement contains provisions imposing operating and financial restrictions on the Company. Certain provisions of the Agreement require the maintenance of specified amounts of tangible net worth (as defined) and working capital (as defined) and the achievement of specified minimum amounts of cash flow (as defined). Other restrictions in the Agreement and those provided under the Indenture relating to the Senior Subordinated Notes of the Company will affect, among other things, the ability of the Company to incur additional indebtedness, pay dividends, repay indebtedness prior to its stated maturity, create liens, enter into leases, sell assets or engage in mergers or acquisitions, make capital expenditures and make investments. These covenants currently have not had an impact on the Company's ability to fully utilize the revolving credit facility. However, certain of the covenants, such as those which restrict the ability of the Company to incur indebtedness or encumber its property or which impose restrictions on or otherwise limit the Company's ability to engage in sale-leaseback transactions, may at some future time prevent the Company from pursuing its store expansion program at the rate that the Company desires. Obligations under the Agreement were $57,111 at November 2, 1997 and $62,797 at October 27, 1996. As noted above, this facility expires in March 2000, and the Company intends to refinance any outstanding balance by such date. Borrowings under the Agreement are senior to the Senior Subordinated Notes of the Company. The Company had long-term debt and obligations under capital leases of $173,040 at November 2, 1997 and $175,801 at October 27, 1996. The Company's ability to satisfy scheduled principal and interest payments under such obligations in the ordinary course of business is dependent primarily upon the sufficiency of the Company's operating cash flow and continued access to financial markets. At November 2, 1997, the Company was in compliance with all covenants contained in its various financing agreements. Since Holdings conducts no operations of its own, the only cash requirement of Holdings relates to preferred stock dividends in the aggregate annual amount for fiscal 1998 totaling approximately $503; and the Company is expressly permitted under its existing credit facilities to pay dividends to Holdings to fund such preferred stock dividends. However, the General Corporation Law of the State of Delaware, under which the Company and Holdings are incorporated, generally allows a corporation to declare or pay a dividend only from its surplus or from the current or the prior year's earnings. Due to the accumulated deficit resulting primarily from the store closings and the write-off of goodwill and other long-lived assets recognized in the fourth quarter of fiscal 1996, the Company and Holdings did not declare or pay any cash dividends in fiscal 1997 or the first nine months of fiscal 1998. See "Subsequent Event" below for a discussion of the payment of the promissory notes of Holdings and the reclassification of the preferred stock of Holdings into common stock of Holdings, effective November 18, 1997. The Company made capital expenditures of $6,131 in the first nine months of fiscal 1998 compared to $4,521 during the first nine months of fiscal 1997. The Company has opened one store in a new market and relocated two stores in fiscal 1998 and will consider additional opportunities for new store locations as they arise. Total capital expenditures are expected to total approximately $10,500 in fiscal 1998. The Company expects to fund these expenditures from cash flow from its operations. The costs of buildings and land for new store locations are expected to be financed by operating or capital leases with unaffiliated landlords. The Company's expansion program also will require inventory of approximately $1,000 to $1,200 for each new market store, which the Company expects to finance through trade credit, borrowings under the Agreement and cash flow from operations. The recent changes to the Agreement, along with expected improvements in the Company's cash flow from operations, should provide adequate resources to meet the Company's near-term liquidity requirements. On a long-term basis, the Company's expansion will require continued investments in store locations, working capital and distribution and infrastructure enhancements. The Company expects to continue to finance some of these investments through leases from unaffiliated landlords, trade credit, borrowings under the Agreement and cash flow from operations but ultimately will need to explore additional sources of funds which may include capital structure changes. Currently, it is not possible for the Company to predict with any certainty either the timing or the availability of such additional financing. SUBSEQUENT EVENT - On July 22, 1997, Holdings announced that it had entered into an agreement with 399 Venture Partners, Inc., a Citicorp subsidiary, providing for the payment of all of the outstanding Senior Promissory Notes, Subordinated Promissory Notes and Junior Subordinated Promissory Notes (the Notes) of Holdings with shares of newly issued common stock and nonvoting common stock of Holdings at the rate of one share for each $9.00 of principal and accrued interest as of the effective date of the transaction. 399 Venture Partners, Inc. owned approximately 82.75% of such Notes. In connection with such agreement, the preferred stockholders of Holdings agreed to simultaneously change and reclassify all of the outstanding shares of preferred stock of Holdings into shares of common stock at the rate of one share of common stock for each $9.00 of preferred stock liquidation value plus accrued dividends as of the effective date. The details of these agreements, proposals and related items are described in the definitive Proxy Statement filed by Holdings dated October 14, 1997. On November 14, 1997, Holdings' stockholders approved the foregoing transactions. Such transactions became effective on November 18, 1997.Accordingly, Holdings has been relieved of the obligation to repay the Notes in 2003 and to redeem the preferred stock (including the payment of accrued dividends) in December 2001. These transactions eliminate any requirement for any funds of the Company to be utilized to pay dividends to Holdings to retire the Notes or to pay dividends on or redeem the preferred stock of Holdings. The Company and Holdings file consolidated tax returns. For tax purposes, the reclassification of Holdings' preferred stock into common stock is a tax-free reorganization for Holdings and will have no direct tax impact on Holdings. However, with respect to the payment of the Notes, the difference, if any, between the recorded value of the Notes and the fair value of the common stock and nonvoting common stock issued in payment of the Notes as of November 18, 1997 will result in a taxable gain or loss for Holdings which will be taxed as ordinary income or loss for federal income tax purposes. The amount of income taxes attributable to the taxable income or loss which may result from this transaction would increase or reduce the Company's existing net operating loss and tax credit carryforwards. For tax purposes, the quoted trading price of Holdings' stock on the effective date of the transaction would normally serve as the primary reference for the fair value of the stock issued in this type of transaction. However, due to factors such as the low number of shares of Holdings stock available for purchase, the related low trading volume of the stock and the magnitude of the number of new shares issued in this transaction, management believes that, in the Company's circumstances, fair value should be determined by other means. Accordingly, an independent appraiser will be engaged to determine an appropriate value of the stock issued in this transaction. If the valuation of the stock issued in this transaction is determined to be substantially less than the $9/share exchange value utilized for the transaction, or if Holdings is unsuccessful in supporting its valuation position, the issuance of common stock and nonvoting common stock of Holdings in payment of the Notes may require a substantial portion of the Company's tax loss carryforwards to be utilized, and therefore such tax loss carryforwards would not be available to offset taxable income in future periods. Until this valuation issue is resolved, the impact of the tax consequences of the Note payment transaction cannot be determined. INFLATION The Company uses the LIFO method of inventory valuation in its financial statements; as a result, the cost of merchandise sold approximates current costs. The Company's rental expense is generally fixed and, except for small amounts of percentage rents and rentals adjusted by cost-of-living increases tied to the Consumer Price Index or interest rates, has not been affected by inflation. FORWARD-LOOKING STATEMENTS This management's discussion and analysis contains certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (the "1995 Act"). Such statements are made in good faith by the Company pursuant to the safe-harbor provisions of the 1995 Act. In connection with these safe-harbor provisions, this management's discussion and analysis contains certain forward-looking statements which reflect management's current views and estimates of future economic circumstances, industry conditions, company performance and financial results. The statements are based on many assumptions and factors including sales results, expense levels, competition and interest rates as well as other risks and uncertainties inherent in the Company's business, capital structure and the retail industry in general. Any changes in these factors could result in significantly different results for the Company. The Company further cautions that the forward-looking information contained herein is not exhaustive or exclusive. The Company does not undertake to update any forward-looking statements which may be made from time to time by or on behalf of the Company. PART II - OTHER INFORMATION ITEMS 1 -5: None. ITEM 6: (a) Exhibits. - 27.1 Financial Data Schedule (EDGAR version only) (b) Reports on Form 8-K. No reports on Form 8-K have been filed during the quarter for which this report is filed. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PAMIDA, INC. (Registrant) Date: December 17, 1997 By: /s/ Steven S. Fishman Steven S. Fishman, Chairman, President and Chief Executive Officer Date: December 17, 1997 By: /s/ Todd D. Weyhrich Todd D. Weyhrich Chief Accounting Office PART II - OTHER INFORMATION ITEMS 1 -5: None. ITEM 6: (a) Exhibits. - 27.1 Financial Data Schedule (EDGAR version only) (b) Reports on Form 8-K. No reports on Form 8-K have been filed during the quarter for which this report is filed. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. PAMIDA , INC. (Registrant) Date: December 17, 1997 By: /s/ Steven S. Fishman Steven S. Fishman, Chairman, President and Chief Executive Officer Date: December 17, 1997 By: /s/ Todd D. Weyhrich Todd D. Weyhrich Chief Accounting Officer EX-27.1 2
5 The schedule contains summary financial information extracted from the Consolidated Balance Sheet of Pamida, Inc. and Subsidiaries as of November 3, 1997 and the related Consolidated Statement of Operations for the 13 weeks then ended and is qualified in its entirety by reference to such financial statements. 0000808304 Pamida, Inc. 1,000 3-MOS FEB-01-1998 NOV-02-1998 9,022 0 10,352 50 187,243 210,185 109,561 66,639 302,838 182,649 173,040 0 0 0 (58,309) 302,838 158,749 158,749 120,895 29,876 0 0 6,327 1,651 0 1,651 0 0 0 1,651 0 0
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