FREEHOLD, N.J. -- With the previously reported sale of two Pennsylvania stores in May, Foodarama Supermarkets here said sales declined for the third quarter and 39 weeks ended July 29. Sales fell 3.3% for the 13-week quarter to $145.9 million and 3.5% for the 39 weeks to $443.9 million. Same-store sales rose 5.3% for the quarter and 0.9% for the 39 weeks. The company reported an increase in net income for the quarter of 41.9% to $545,000 and a net loss of $845,000 for the year to date. It said the loss resulted from extraordinary charges of approximately $1.4 million related to the refinancing of the company's institutional indebtedness in February and $175,000 related to a change in accounting for post-employment benefits. Foodarama operates 18 stores in New Jersey. Two new World Class stores -- an upscale, expanded Foodarama format -- are under construction in Marlboro and Montgomery, N.J., with openings expected in March and June 1996, respectively.
