LOS ANGELES -- Arden Group, parent company of 13 Gelson's and Mayfair Markets here, said the addition of one new store and the timing of the Jewish holidays helped boost sales for the third quarter and 39 weeks ended Oct. 3.
llowing an arbitration decision that adjusted the 1993 sale price of Arden's communication-equipment business and arbitration-related expenses.
Sales jumped 12.5% to $74.1 million for the quarter and 10.7% to $217.3 million for the year to date, while same-store sales rose 8.7% for the quarter and 7.3% for the 39 weeks. The company said the sales increase was partially due to the timing of the Jewish holidays, which fell in this year's third quarter, compared with last year's fourth quarter -- which was offset by the timing of July 4 holiday sales in this year's second quarter and last year's third quarter.
The company said it also attributed increases to "the robust southern California economy and the effect of product pricing decisions."
Arden said it is "encouraged" by sales increases at a Gelson's that opened a year ago in Northridge, Calif., although it noted those sales are running below management's expectations; however, the company said it expects sales to improve as additional tenants occupy the shopping center's vacant space and additional construction on the center is completed.
