American Stores Company and Subsidiaries - Page 3




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          the affiliated group, and it filed the petition on behalf of all            
          eligible members of the group pursuant to section 1.1502-77,                
          Income Tax Regs.  At the time the petition was filed, American              
          Stores, a Delaware corporation, maintained its mailing address              
          and principal office at 709 East South Temple, Salt Lake City,              
          Utah.  Petitioner files its income tax returns on the basis of a            
          52-53-week fiscal year ending on the Saturday nearest to each               
          January 31.  Petitioner prepared and filed the consolidated                 
          income tax returns for its 1989 and 1990 tax years using the                
          accrual method of accounting.                                               
               By January 28, 1989, American Stores and its subsidiaries              
          operated approximately 1,917 retail units in 39 States.  During             
          the 1989 and 1990 tax years, petitioner principally engaged in              
          the retail sale of food and drug merchandise.  Petitioner is one            
          of the nation’s leading retailers, operating combination                    
          drug/food stores, super drug centers, drug stores, and food                 
          stores.  Petitioner sells both food and nonfood merchandise such            
          as prescription drugs, tobacco products, housewares, health and             
          beauty aids, and sundry merchandise for home and family use.                
          Petitioner maintains a substantial inventory for its various                
          retail grocery and drug stores throughout the nation.                       
               Prior to its acquisition of Lucky Stores, Inc. (Lucky                  
          Stores), petitioner conducted its activities through American               
          Stores’ wholly owned subsidiaries:  American Super Stores, Inc.,            






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