ShopKo Reports August Retail Sales

Sep 05, 2002, 01:00 ET from ShopKo Stores, Inc.

    GREEN BAY, Wis., Sept. 5 /PRNewswire-FirstCall/ -- ShopKo Stores, Inc.,
 (NYSE:   SKO) today reported consolidated sales for the four weeks ended
 August 31, 2002 were $253.3 million, 4.2 percent lower than the $264.5 million
 reported for the same period last year.  Consolidated comparable store sales
 declined 3.9 percent.
     Commenting on the results, ShopKo Stores, Inc. Interim Chief Executive
 Officer and Vice Chairman Finance and Administration, Jeffrey Girard said,
 "August consolidated comparable store sales were slightly below our guidance.
 In the ShopKo Division, sales of Back-to-School supplies were better than
 expected while sales of basic apparel were disappointing.  However, gross
 margin rates continued to benefit from tightly managed inventories."
            Sales Summary by Business Segment (dollars in millions)
     Retail Segments
                                 Period Ended              % Change
     4 Weeks:                        08/31/02        Total***     Comp**
      ShopKo                           $195.4           (3.7)%     (3.7)%
      Pamida*                            57.9           (5.9)      (4.6)
      Total Retail                     $253.3           (4.2)%     (3.9)%
     30 Weeks:
      ShopKo (excluding
       closed stores)                $1,331.1            1.1%       1.1%
      ShopKo (including
       closed stores)
                                      1,331.1           (3.1)       N/A
      Pamida*                           434.3           (6.5)      (5.2)
      Total Retail (excluding
       closed stores)                $1,765.4           (0.9)%     (0.6)%
      Total Retail  (including
       closed stores)                $1,765.4           (3.9)%      N/A
     *   For all periods presented, total retail sales are exclusive of layaway
     **  Comparable store sales represent sales of those stores open during
         both fiscal years.
     *** Pamida division total sales variance relative to comparable store
         sales reflects sales from five closed locations which were not
     Business Outlook
     Consolidated comparable store sales for the month of September are
 expected to be in the negative low-single digit range.
     ShopKo Stores Inc. will continue to provide weekly updates on consolidated
 comparable store sales performance.  An audio recording of the previous week's
 results will be available after 10:00 AM  CDT Monday by calling
 (920) 429-4646.  (Previous call in number was 920-429-7039).  These recorded
 messages will not be available on the Monday preceding monthly sales releases.
     ShopKo Stores, Inc., a Fortune 500 company headquartered in Green Bay,
 Wis., operates 365 retail stores in 23 states, primarily in the Midwest,
 Western Mountain and Pacific Northwest regions.  Retail operations include 141
 specialty discount stores operating under the ShopKo name in mid-sized and
 larger cities, and 224 Pamida discount stores in smaller, rural communities.
 For more information about ShopKo or Pamida visit our website at
     This press release contains forward-looking statements within the meaning
 of the safe harbor provisions of the Private Securities Litigation Reform Act
 of 1995, including statements regarding expected sales and other financial
 results.  Such statements are subject to important factors that could cause
 ShopKo's actual results to differ materially from those anticipated by the
 forward-looking statements including those referenced in ShopKo's current
 annual report on Form 10-K or as may be described from time to time in
 ShopKo's subsequent SEC filings; and such factors are incorporated by
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SOURCE ShopKo Stores, Inc.