PORTLAND, Ore. -- Sales and net income figures at Fred Meyer Inc. here rose sharply in the third quarter and 40 weeks ended Nov. 9.
ales rose 11% to $2.73 billion from $2.46 billion a year ago. Overall comparable-store sales were up 4.1% in the quarter and 40 weeks. Comparable sales rose 3.5% for food and 4.6% for nonfood in the quarter and were up 5.1% for food and 3.4% for nonfood in the year to date.
Fred Meyer Inc. reported $6.3 million in net earnings for the quarter vs. a $2.3 million net loss a year earlier. In the 40 weeks, net income rose 170% to $30.9 million from $11.4 million.
"Improved sales and operating earnings in our nonfood categories, partially due to strong fall apparel sales, combined with increased service levels storewide and continued strong food sales, resulted in this year's significant net income growth," explained Robert G. Miller, chairman and chief executive officer.
