Copps Corp. Boosts Roundy's 2nd Quarter PEWAUKEE, Wis. -- Roundy's here said the acquisition of the Copps Corp. in May helped boost sales and operating income to record levels for the second quarter and first half ended June 30.
Gerald F. Lestina, president and chief executive officer, said second-quarter results reflected write-offs of over $2 million relating to a labor dispute in a distribution center in southern Illinois and the expensing of unamortized costs associated with a previous debt agreement. "We are confident the second half of the year will allow us to implement our full retail strategy for optimum market impact," he said.
Penn Traffic's Same-Store Sales Edge Up
SYRACUSE, N.Y. -- Penn Traffic Co. here said same-store sales rose 0.7% for the second quarter ended Aug. 4 and 0.6% for the first half. Joseph V. Fisher, president and CEO, said it was the fifth time in the last six quarters the company has achieved positive comps. Penn Traffic said it will release full second-quarter financial results next month.
Fleming Affirms Earnings Guidance
DALLAS -- Fleming here said last week it is affirming its previous guidance for adjusted earnings of $1.96 per share in 2001. It also said it was affirming guidance for fiscal 2002 and 2003 of $2.50 per share and $3.30 per share, respectively.
The company said those numbers, if they are achieved, will represent the continuation of a 30% compounded growth rate for adjusted earnings over the five-year period that began in 1999.