ANCHORAGE, Alaska -- Carr Gottstein Foods here reported a 2.4% increase in first-quarter sales and a net profit before extraordinary items, compared with a net loss before extraordinary items in the year-ago period.
nting changes. After the extraordinary item, net income totaled $1.5 million last year.
In the 13-week period, Carr Gottstein reported sales of $133.1 million. Same-store sales fell 2.6% at its Carrs Quality Centers and rose 2.3% at its Eagle Quality Centers stores. The 14 Carrs units are combination stores and the seven Eagle units are smaller format supermarkets. Four new stores, including three Eagle units, opened in the quarter.
John J. Cairns, chairman and chief executive officer, said 11 major general merchandise competitors opened new or enlarged stores in the company's trading area over the past nine months. Three of the stores stock food.
Carr Gottstein "is extremely pleased with the sales levels, given the heightened competition," Cairns said.
No further competitive openings are expected this year, he said, although Carrs will be cycling against the new competition for the balance of 1994.
Jonathan Ziegler, a securities analyst with Salomon Bros., New York, said the competitive stores represent 1.4 million new square feet. Carr Gottstein's total square footage is 865,500 square feet.