EDMONTON, ALBERTA, Jun 1, 2004 -- PLANET ORGANIC HEALTH CORP. ("Planet" or the "Corporation") (TSX Venture Exchange - POH), which owns and operates large natural food supermarkets in Edmonton, Victoria, Calgary and Port Coquitlam announces revenue for the third quarter totaled $3,443,044 a 51% increase from $2,268,572 the corresponding period last year.
On a cumulative basis, revenue for the nine months ending March 31, 2004 totaled $8,691,071 a 50.62% increase over the same period last year.
The increase is due to the opening of the Company's 4th location in Port Coquitlam and same store sales increases of 23%. "The introduction of our new marketing program has proven to be instrumental in capturing additional market share"- reports Planet CEO, Mark Craft. The Company will continue its roll-out strategy of 20 locations throughout Canada over the next 4 years.
Planet Organic operates natural food supermarkets in Edmonton, Victoria, Calgary and Port Coquitlam with current revenues for the nine months ended March 31 of $8,691,071. Planet Organic provides its customers with the convenience of one-stop shopping by offering a broad product selection in all merchandise categories. Planet Organic's objectives are to consolidate the fragmented natural and organic foods industry in Canada and the U.S. via acquisitions, mergers and new retail operations. Planet's five-year goal is to have between 15 and 20 stores throughout Canada.
This news release contains forward-looking information. Actual results may vary significantly from estimates.