Skip navigation

DOMINICK'S SALES HIT RECORD, BUT IPO MARS PROFIT PICTURE

NORTHLAKE, Ill. -- For the 15th consecutive year, Dominick's Finer Foods here reported record sales for the fiscal year, but an initial public offering this fall negatively affected earnings. pared with $544.6 million during last year's 12-week period. Comparable-store sales were up 1.3% for the quarter and 1.2% for the year. The increases were primarily due to the extra week in 1996 and the opening

NORTHLAKE, Ill. -- For the 15th consecutive year, Dominick's Finer Foods here reported record sales for the fiscal year, but an initial public offering this fall negatively affected earnings.

pared with $544.6 million during last year's 12-week period. Comparable-store sales were up 1.3% for the quarter and 1.2% for the year. The increases were primarily due to the extra week in 1996 and the opening of four new stores in the fourth quarter.

Operating cash flow of $34 million and $134.9 million for the quarter and year, respectively, represent a record 5.6% and 5.4% of sales. In 1995, operating cash flow was $27.6 million and $114.8 million, or 5.1% and 4.7% of sales, in the comparable periods.

The fourth-quarter net loss was $12.8 million, which includes $12.7 million for nonrecurring after-tax charges related to the IPO and $2.7 million for preferred dividends. The company reported a net loss of $1.3 million in the year-ago quarter. For the 53 weeks, Dominick's posted a net loss of $14.9 million, which includes the IPO-related costs as well as $7.9 million for preferred dividends.

4TH-QUARTER RESULTS

Qtr Ended 11/2/96 10/28/95

Sales $611.4 million $544.6 million

Change + 12.3%

Same-store + 1.3%

Net Income ($12.8 million) ($1.3 million)

Inc/Share (82 cents) (8 cents)

53 Weeks 1996 1995

Sales $2.51 billion $2.43 billion

Change + 3.3%

Same-store + 1.2%

Net Income ($14.9 million)

Inc/Share (96 cents)

Fiscal 1996 had a 13-week fourth quarter and 53 weeks. Fiscal 1995 had a 12-week quarter and 52 weeks.

Information about fiscal 1995 was not readily available.