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March 1, 2003

Schnucks Will Close Its Fenton, Mo. Store

ST. LOUIS - Craig D. Schnuck, chairman and chief executive officer of Schnuck Markets, Inc., today announced that the Schnucks store located at 241 Fenton Park Mall in Fenton, Mo. will close Saturday, March 15 at 6 p.m.

Citing low sales and hardships brought on by size and sales environment, Schnuck said, "We've monitored the Fenton store very closely, and we are convinced that the facility, pressed on all sides by larger developments, is unable to attract and retain customers to warrant continued operation."

The 38,000-square-foot store opened in 1975, at a time when smaller stores were the norm. However, today's consumer is more likely to shop regularly in a store that offers more goods, services and conveniences. "In recent years, we have been challenged to find the space for a pharmacy, food bar, or nutrition and beverage center -- services which have proven popular with our customers," said Schnuck.

Schnuck says a significant expansion was never a viable investment option considering the size of the community and number of stores competing for business, including the company's own successful store located at Gravois and Dillon roads just five miles away. "After careful consideration of the market, we determined that it would be impossible for us to recover lost sales," said Schnuck.

"We originally had intended to keep the Fenton store open until we could find a replacement site. However, in light of current economic conditions and rising expenses including insurance and other operating costs, we made the decision to close," said Schnuck.

The closing will result in the reassignment of approximately 60 associates. Schnuck said, "We will do everything we can to make this transition a smooth one for both our customers and our associates."

Schnucks currently leases the Fenton property from Clarkson Fenton, Inc. It is managed by Pace Properties of St. Louis.

Including Fenton, Schnuck Markets, Inc. currently operates 102 stores and 93 in-store pharmacies in Missouri, Illinois, Indiana, Wisconsin, Tennessee and Mississippi. This includes five stores that operate as Logli Supermarkets. The family owned company was founded in St. Louis in 1939.

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