ANCHORAGE, Alaska -- Carr Gottstein Foods Co. here reported increased sales for the third quarter and nine months ended Oct. 2.
It also reported positive earnings for the 13-week quarter and the year to date, compared with losses a year ago that resulted from nonrecurring items.
Sales rose 4.6% for the quarter to $149.7 million and 3.1% for the 39 weeks to $431.6 million. Sales at Carrs Quality Centers, the company's 14 super-combination stores, declined 1% for the quarter and 0.01% for the year to date, while sales at its seven conventional Eagle Quality Centers rose 50.4% for the quarter and 37.1% for the 39 weeks.
Same-store sales at Carrs declined 4.5% for the quarter and 4.8% for the nine months; same-store sales at Eagle rose 4.2% for the quarter and 0.56% for the nine months.
Last year's third quarter included nonrecurring and extraordinary charges of $23.6 million related to prepayment of debt using proceeds from an initial public offering in July 1993. With those charges included, the company had net income for the quarter of $3.1 million, compared with a net loss of $19.9 million a year ago, and net income for the nine months of $6.7 million, compared with a loss of $17 million.
Excluding the charges, net income was $3.1 million for the quarter, compared with $3.6 million, and $6.7 million for the nine months, compared with $4.8 million. According to Mark R. Williams, president and chief executive officer, "Over the last year, 12 major new or enlarged general merchandise stores, three of which include food, have opened in trading areas served by Carrs Quality Centers. While only one new competing store was open at the beginning of the third quarter, all 12 were operating during the entire third quarter."
