Exhibit 99.1



Smart & Final Stores, Inc. Reports Third Quarter 2018 Financial Results


COMMERCE, Calif. (November 14, 2018) — Smart & Final Stores, Inc. (the “Company”) (NYSE:SFS), the value-oriented food and everyday staples retailer, today reported financial results for the fiscal third quarter ended October 7, 2018.


Third Quarter Highlights:


·                  Net sales increased 2.8% to $1,497.7 million with a comparable store sales increase of 0.6%

·                  Gross margin increased 8.7% to $232.4 million

·                  Adjusted EBITDA of $62.3 million

·                  Net income of $10.2 million or $0.14 per share, including benefit of lower tax rate

·                  Adjusted net income of $16.9 million or $0.23 per share, including benefit of lower tax rate

·                  Debt reduction of $23 million in the quarter and $46 million year-to-date


“Our third quarter performance was solid with 2.8% year-over-year growth in overall sales.  We also delivered our sixth consecutive quarter of positive comparable store sales, with growth in both average transaction size and merchandise margins despite greater pressure from deflation in product prices,” said David Hirz, president and chief executive officer of the Company.


“We also continue to allocate our strong free cash flow from operations to reduce outstanding debt with a year-to-date reduction of $46 million.  Our focus on our key customer segments, including small business customers, is growing sales despite deflation, as we build on our core strengths in value pricing and unique merchandising.  We continue to support our value proposition through targeted investments in digital commerce and infrastructure, which are helping to drive strong online sales gains in both our Smart & Final and Smart Foodservice Warehouse banners.”


In order to aid understanding of the Company’s business performance, it has presented results in conformity with accounting principles generally accepted in the United States (“GAAP”) and has also presented EBITDA, adjusted EBITDA, adjusted net income, adjusted net income per share, and adjusted net income per diluted share, which are non-GAAP measures that are explained and reconciled to the comparable GAAP measures in the tables included in this release. Where applicable, the results below are first presented on a GAAP basis and then on a non-GAAP adjusted basis.


Fiscal Third Quarter 2018 Financial Results


Net sales were $1,497.7 million in the 16-week quarter ended October 7, 2018, representing a 2.8% increase as compared to $1,457.4 million for the same period of 2017. Net sales growth was driven by a 0.6% increase in comparable store sales and from the net sales contribution of new stores. Comparable store sales growth was comprised of a 1.9% increase in comparable average transaction size, partially offset by a 1.3% decrease in comparable transaction count. The Company estimates that the year-to-year deflation rate in product pricing was -0.7% in the third quarter.



The following information was filed by Smart Final Stores, Inc. (SFS) on Wednesday, November 14, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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