SKO Shopko Stores

GREEN BAY, Wis., Nov. 11 /PRNewswire-FirstCall/ -- ShopKo Stores, Inc. (NYSE:SKO) announced it has sold its two ShopKo stores located in Reno, Nev., to a San Francisco, Calif., based entity comprised of SPI Holdings, LLC and Retail West Inc. The stores will operate through the holiday season and be closed early in 2006. ShopKo pharmacy customers will be notified with more specific information. "We want to thank our customers in Nevada for their loyal patronage, and our teammates for their hard work over the years," said ShopKo chief financial officer and co-chief executive officer Brian Bender. The company cited economic considerations and changes in the Reno retail market as reasons for the closings. ShopKo originally opened its store at 6139 South Virginia St. in 1988 and its Reno store at 5150 Mae Anne Ave. in 1990. The affected Nevada stores employ 147 teammates who will be eligible for severance packages according to the company's severance guidelines. ShopKo Stores, Inc. is a retailer of quality goods and services headquartered in Green Bay, Wis., with stores located throughout the Midwest, Mountain and Pacific Northwest regions. Retail formats include 137 ShopKo stores, providing quality name-brand merchandise, great values, pharmacy and optical services in mid-sized to larger cities; 216 Pamida stores, 116 of which contain pharmacies, bringing value and convenience close to home in small, rural communities; and three ShopKo Express Rx stores, a new and convenient neighborhood drugstore concept. With more than $3.0 billion in annual sales, ShopKo Stores, Inc. is listed on the New York Stock Exchange under the symbol SKO. For more information about ShopKo, Pamida or ShopKo Express Rx, visit our Web site at http://www.shopko.com/ . 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 reference. DATASOURCE: ShopKo Stores, Inc. CONTACT: John Vigeland of ShopKo, +1-920-429-4132; or Annie Jesseman of Retail West, +1-415-292-2685 Web site: http://www.shopko.com/

Copyright