MILAN, Ill. -- Eagle Food Centers here reported its second consecutive quarter of positive same-store sales results but overall sales fell and the company reported a loss during the third quarter ended Oct. 28.
The company operates 92 stores -- six fewer than last year.
Sales dropped 2.4% from $252.2 million to $246.2 million for the 13 weeks but same-store sales increased 1%. The company sustained a net loss of $2.6 million, compared with a net loss of $7.4 million in the year-ago period.
For the 39 weeks, sales fell 1.8% from $754.5 million to $740.8 million. Same-store sales rose 0.7%. The company recorded a net loss of $12.4 million, compared with a net loss of $14.1 million in 1994. The company also recorded an extraordinary charge of $625,000 related to the refinancing of a revolving credit facility.
Cash flow or earnings before interest, taxes, depreciation, amortization and the extraordinary charge went from from $2.1 million to $7.1 million for the quarter and from $10 million to $17.7 million for the year-to-date.
The company operates stores in Illinois, Iowa and Indiana under the Eagle Country Markets, Eagle Country Warehouse, Eagle Food Centers and BOGO's Food and Deals banners.