Village Super Market, Inc. Reports 27% Increase in Net Income for the Quarter Ended April 25, 2009

Village Super Market, Inc. (Nasdaq:VLGEA) today reported its results of operations for the third quarter ended April 25, 2009.

Net income was $6,252,000 in the third quarter of fiscal 2009, an increase of 27% from the third quarter of the prior year. Net income increased primarily due to higher sales and lower operating expenses as a percentage of sales.

Sales were $293,474,000 in the third quarter of fiscal 2009, an increase of 7.3% from the third quarter of the prior year. Same store sales also increased 7.3% as the Franklin and Galloway stores, which opened in fiscal 2008, are now included in same store sales. The large same store sales increase is due to higher sales at the Franklin and Galloway stores, substantially improved transaction counts at most stores, and comparison to a weak third quarter of fiscal 2008 when same store sales increased only .4%. Inflation in the third quarter of fiscal 2009 was lower than the average inflation for calendar 2008. The Company believes the substantially improved transaction counts combined with minimal increases in the average transaction size in the third quarter of fiscal 2009 indicates customers continue to be cautious about the economy and, as a result, the Company continues to experience increased sale item penetration, coupon usage and trading down. Based on the sales trend in May, and a difficult comparison to the fourth quarter of 2008 when sales benefited from the distribution of economic stimulus checks, the Company expects same store sales to increase by 1.5% to 3.5% in the fourth quarter of fiscal 2009.

Gross profit as a percentage of sales decreased .35% in the third quarter of fiscal 2009 compared to the third quarter of the prior year primarily due to higher promotional spending and lower departmental gross margin percentages. These decreases were partially offset by lower LIFO expense in the third quarter of fiscal 2009. Promotional expense increased and departmental gross margin percentages decreased as the Company became more aggressive on promotions and price in response to the needs of customers in a difficult economic environment.

Operating and administrative expense decreased .91% as a percentage of sales in the third quarter of fiscal 2009 compared to the third quarter of the prior year primarily due to reduced payroll and other costs as a result of operating leverage due to the 7.3% same store sales increase.

Net income was $20,575,000 in the nine-month period of fiscal 2009, an increase of 31% from the prior year. Sales for the nine-month period of fiscal 2009 were $897,172,000, an increase of 8.1% from the prior year. Same store sales increased 5.9%.

With the opening of the Marmora, NJ store on May 31, 2009, Village Super Market now operates a chain of 26 supermarkets under the ShopRite name in New Jersey and eastern Pennsylvania.

All statements, other than statements of historical fact, included in this Press Release are or may be considered forward-looking statements within the meaning of federal securities law. The Company cautions the reader that there is no assurance that actual results or business conditions will not differ materially from future results, whether expressed, suggested or implied by such forward-looking statements. The Company undertakes no obligation to update forward-looking statements to reflect developments or information obtained after the date hereof. The following are among the principal factors that could cause actual results to differ from the forward-looking statements: local economic conditions; competitive pressures from the Company's operating environment; the ability of the Company to maintain and improve its sales and margins; the ability to attract and retain qualified associates; the availability of new store locations; the availability of capital; the liquidity of the Company; the success of operating initiatives; consumer spending patterns; the impact of higher energy prices; increased cost of goods sold, including increased costs from the Company's principal supplier, Wakefern; the results of litigation, including the outcome of the litigation and approval process relating to the Washington store; the results of tax examinations; the results of union contract negotiations; competitive store openings; the rate of return on pension assets; and other factors detailed herein and in the Company's filings with the SEC.

                      VILLAGE SUPER MARKET, INC.
           CONSOLIDATED CONDENSED STATEMENTS OF OPERATIONS
          (in Thousands Except Per Share Amounts)(Unaudited)

                                13 Wks.   13 Wks.   39 Wks.   39 Wks.
                                 Ended     Ended     Ended     Ended
                                Apr. 25,  Apr. 26,  Apr. 25,  Apr. 26,
                                  2009      2008      2009      2008
                                --------  --------  --------  --------

 Sales                          $293,474  $273,406  $897,172  $829,794

 Cost of sales                   213,404   197,865   652,569   604,625
                                --------  --------  --------  --------

 Gross profit                     80,070    75,541   244,603   225,169

 Operating and administrative
  expense                         65,428    63,439   197,688   188,152

 Depreciation and amortization
  expense                          3,720     3,534    11,042    10,160
                                --------  --------  --------  --------

 Operating income                 10,922     8,568    35,873    26,857

 Interest expense                   (695)     (758)   (2,130)   (2,197)

 Interest income                     497       707     1,554     2,465
                                --------  --------  --------  --------

 Income before income taxes       10,724     8,517    35,297    27,125


 Income taxes                      4,472     3,602    14,722    11,473
                                --------  --------  --------  --------

 Net income                     $  6,252  $  4,915  $ 20,575  $ 15,652
                                ========  ========  ========  ========
 Net income per share(1):
  Class A common stock:
   Basic                        $    .58  $    .46  $   1.91  $   1.48
   Diluted                      $    .47  $    .37  $   1.55  $   1.19
  Class B common stock:
   Basic                        $    .38  $    .30  $   1.24  $    .96
   Diluted                      $    .37  $    .30  $   1.22  $    .96

 Gross profit as a % of sales       27.3%     27.6%     27.3%     27.1%
 Operating and admin. expense
   as a % of sales                  22.3%     23.2%     22.0%     22.7%

 (1) All per share amounts have been adjusted to reflect the
     two-for-one stock split effective January 22, 2009.

This news release was distributed by GlobeNewswire, www.globenewswire.com

SOURCE: Village Super Market, Inc.

Village Super Market, Inc.
          Kevin Begley, CFO
          (973) 467-2200 - Ext. 220
          Kevin.Begley@Wakefern.com

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