EDMONTON, May 26 /PRNewswire-FirstCall/ -- Planet Organic Health Corp (TSX Venture Exchange - POH), Canada's leading natural products retailer, today reported consolidated sales for the quarter ended March 31, 2008 of $29.7 million compared to $14.6 million for the same period last year, an increase of 103% or $15.1 million.
The PLANET ORGANIC MARKET division showed a 43.2% increase in same-store sales growth for the quarter ended March 31, 2008. Total revenues increased to $13.4 million compared to $9.3 million for the same quarter last year.
Mrs Green's Natural Markets - Planet's U.S. division, reported sales results for the 13-week quarter ending March 31, 2008. Same store sales increased by 11.4% or $11.6 million compared to $10.4 million for the same period last year.
The two largest divisions, Planet Organic Market and Mrs Green's Natural Market account for 85% of total corp revenue. From this point forward, sales results from the smaller divisions being Trophic, Sangster's and Healthy's (Planet Organic Living) will be disclosed in the Q3 MD&A.
POHC consolidated sales are after consolidation entries. Segmented sales by division are prior to consolidation entries, reflecting their net sales to the industry and to related parties. Percentages are rounded. These figures are subject to final adjustments.
Planet Organic Health Corp will be releasing its third quarter and year-to-date financial results, which will include all financial data, after the close of market May 30, 2008 with a press release scheduled for Monday June 2, 2008.
ABOUT PLANET ORGANIC
Planet Organic Health Corp. (TSX-V: POH) is a natural products industry company, comprising manufacturing, distribution and retail. Planet is listed on the TSX Venture Exchange as a Tier One company. Planet operates nine 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 48 natural health outlets under the Sangster's Health Centre banner and eight natural health outlets under the Healthy's 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.
