020705 Bob Evans Announces June Same-Store Sales

Columbus, OH - Bob Evans Farms, Inc. announced that same-store sales in "core" restaurants (431 stores which were open for the full 12 months in both fiscal years 2001 and 2002) for the fiscal 2003 month of June (the four weeks ended June 21) decreased 1.4% from the comparable period a year ago. Menu prices for the month were up approximately 2.7%.

"We experienced a sharp and somewhat surprising slowdown in our restaurant sales for about two weeks, beginning with the Memorial Day weekend," said Stewart K. Owens, chairman of the board and chief executive officer. "While we do not disclose same-store sales for individual weeks, our trends generally have improved since early June, with an average weekly increase closer to -- though still below -- our previous levels." May same-store sales increased 3.2% for core stores compared with the prior year.

Mr. Owens continued, "We remain comfortable with our previous earnings per share (diluted) guidance of approximately $0.55 for the quarter ending July 26, 2002, compared with $0.43 per share for the same quarter a year ago. Profit margins in our restaurant segment for the quarter-to-date are still above last year's levels, despite the softer sales trend, and our food products business continues to benefit from favorable conditions in the hog market."

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