NEW YORK -- Gristede's Sloan's here said store remodelings resulted in solid sales and earnings gains for the second quarter and first half ended May 30.
banner as they are reopened. The spokesman told SN the company's directors are slated to vote next month on changing the name on all stores to Gristede's by the end of the fiscal year in November.
He said the remodeling effort is causing sales and earnings to spike, with sales rising 13% to $44.4 million for the 13-week quarter and 12.6% to $88.5 million for the 26-week period, while same-store sales jumped 15.7% for the quarter and 16% for the year to date.
The company said net income rose 33.9% to $436,331 for the quarter and 136.9% to $843,027 for the half, while operating cash flow rose 5.5% to $2.3 million for the quarter and 15.8% to $4.6 million for the half.
