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.