LANDOVER, Md. -- Riding momentum from a robust fourth quarter, Giant Food here reported a strong earnings gain for the 12-week first quarter ended May 18.
and higher sales, according to Giant. Sales rose 3% to $895.6 million from $869.2 million a year ago.
Same-store sales were relatively flat, up 0.2%. Some stores open less than a year, notably four food-drug units opened between November and January, cannibalized sales from existing stores, reducing what would have been a 1% same-store gain, Giant said.
