SALT LAKE CITY -- American Stores Co. here reported an increase in sales for the fourth quarter and year-to-date but a loss for the quarter and a decrease in net income for the year. The company said the income results are due to an extraordinary charge related to its pending merger with Albertson's, Boise, Idaho.
$96.1 million for the same period last year.
Net income was affected by a one-time charge of $132.6 million in common stock options on an after-tax basis -- or 47 cents per diluted share for the quarter. The stock options are part of the merger proposal and were included in the results because of the assumption that the deal will close, the company said.