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CARR GOTTSTEIN PROFIT FALLS 59.4%, SALES CLIMB 4.2%

ANCHORAGE, Alaska -- Carr Gottstein Foods here reported an earnings drop of 59.4% to $3.7 million for the year ended Dec. 31 and a net loss for the quarter of $1.7 million due to two extraordinary items and pretax charges of $3.7 million.r the year and 4.1% for the quarter at the smaller Eagle Quality Centers.Operating cash flow, excluding the $2.2-million charge for the uncompleted sale/leaseback,

ANCHORAGE, Alaska -- Carr Gottstein Foods here reported an earnings drop of 59.4% to $3.7 million for the year ended Dec. 31 and a net loss for the quarter of $1.7 million due to two extraordinary items and pretax charges of $3.7 million.

r the year and 4.1% for the quarter at the smaller Eagle Quality Centers.

Operating cash flow, excluding the $2.2-million charge for the uncompleted sale/leaseback, rose 4.6% for the year to $47.4 million, or 7.9% of sales,and declined 9.8% for the quarter to $11 million, or 7.3% of sales.

During the fourth quarter, the company said, it accelerated its corporate backstage re-engineering program called Fusion, with the installation of a new financial system. It said it expects to complete installation of a new buying system by the end of the first quarter.

Carr Gottstein Foods operates 39 stores in Alaska, plus a full-line food warehouse and distribution center and a freight company.

4TH-QUARTER RESULTS

Qtr Ended 12/31/95 1/1/95

Sales $152 million $145.3 million

Change + 4.3%

Same-store - 0.3% (Carrs)

+ 4.1% (Eagle)

Net Income ($1.7 million) $2.5 million

Inc/Share (14 cents) 16 cents

52 Weeks 1995 1994

Sales $601.3 million $577.1 million

Change + 4.2%

Same-store - 0.4% (Carrs)

+ 4.2% (Eagle)

Net Income $3.7 million $9.2 million

Change - 59.4%

Inc/Share 26 cents 55 cents