BIRMINGHAM, Ala. -- Bruno's here said the sale or closing of 49 stores in the prior fiscal year resulted in a sales decline for the third quarter and 39 weeks ended Oct. 30.
rly this year.
Sales fell 9.5% to $398.7 million for the 13-week quarter and 15.4% to $1.2 billion for the year to date.
The company said same-store sales declined 1.5% for the quarter and 0.5% for the 39-week period as the result of a seven-day retail clerks strike in late September and early October that affected 104 of the company's 152 stores, somewhat offset by increased sales resulting from special promotions at the strike's end.
Bruno's said it had a loss of $8 million for the quarter, compared with net earnings of $6.9 million a year ago, and a loss of $27.4 million for the 39 weeks, compared with a loss of $39.2 million a year ago. It said the loss was due to special charges of $21.4 million related to the store closings.
Operating cash flow rose 181.3% to $4.5 million for the quarter and 420.4% to $28.1 million for the year to date, which the company attributed to improved gross-profit margins, reductions in labor and associated costs and lower advertising expenses during the last two quarters of the prior year.
Bruno's said results for the quarter and year-to-date reflect about 20 days of operation of three stores it acquired in early October from Gregerson's Foods, Gadsden, Ala.
