EDMONTON, Nov. 27 /PRNewswire-FirstCall/ -- Planet Organic Health Corp (TSX Venture Exchange - POH), Canada's leading natural products retailer, today reported consolidated sales for the quarter ended September 30, 2008 of $30.0 million compared to $25.7 million for the same period last year, an increase of 16.7% or $4.3 million.
The PLANET ORGANIC MARKET division showed same-store sales growth of 19.4% for the quarter ended September 30, 2008. Total revenues at the division grew from $11.7 million to $14.6 million, an increase of 24.5%.
MRS. GREEN'S NATURAL MARKET - Planet's U.S. division showed same-store sales growth of 8.0% for the quarter ended September 30, 2008. Total revenues and same-store revenues are equal.
The two largest divisions, Planet Organic Market and Mrs. Green's Natural Market account for the majority (86%) of total consolidated 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 MD&A.
Planet Organic Health Corp will be releasing its Q1 financial results and MD&A, which will include all financial data, after the close of market Monday December 1, 2008 with a press release scheduled for the same time.
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 ten 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 47 natural health outlets under the Sangster's Health Centre banner and eight natural health outlets under the Healthy's (Planet Organic Living) 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. Forward-Looking Statements
Certain information included herein is forward-looking. Forward-looking statements include, without limitation, statements regarding the future financial position, business strategy, budgets, projected costs, capital expenditures, financial results, taxes and plans and objectives of or involving Planet. Many of these statements can be identified by looking for words such as "believe", "expects", "expected", "will", "intends", "projects", "anticipates", "estimates", "continues", or similar words and include but are not limited to, statements regarding the accretive effects of the acquisition and the anticipated results and expected benefits of the acquisition upon closing thereof. Planet Organic believes the expectations reflected in such forward-looking statements are reasonable but no assurance can be given that these expectations will prove to be correct and such forward-looking statements should not be unduly relied upon. Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties some of which are described in Planet Organic's continuous disclosure documents. Such forward-looking statements necessarily involve known and unknown risks and uncertainties and other factors, which may cause Planet Organic's actual performance and financial results in future periods to differ materially from any projections of future performance or results expressed or implied by such forward-looking statements. Such factors include, but are not limited to: general economic, market and business conditions; industry capacity; competitive action by other companies; refining and marketing margins; the ability of suppliers to meet commitments; actions by governmental authorities including increases in taxes; changes in environmental and other regulations; and other factors, many of which are beyond the control of Planet Organic. Any forward-looking statements are made as of the date hereof and Planet Organic does not undertake any obligation, except as required under applicable law, to publicly update or revise such statements to reflect new information, subsequent or otherwise.
