INDIANAPOLIS -- Marsh Supermarkets here said sales and earnings rose for the year and for the fourth quarter ended March 27.
.3 million charge in the second quarter relating to prepayment of debt following a financial restructuring. Sales and other revenues for the year rose 6.7% to $1.6 billion, while comparable-store sales increased 5.2%.
For the 12-week fourth quarter net income was up 5% to $2.9 million, while sales rose 10.3% to $374.2 million; the company declined to release comparable-store sales for the quarter.
Marsh said it opened a new-format store during the quarter: a 7,500-square-foot limited assortment store called Savin*$, which utilizes an everyday-low-pricing scheme and is located in Frankfort, Ind., in what was formerly a storeroom in a shopping center. The company told SN it is looking at other potential locations.
Also during the quarter the company said it opened its fifth new-generation Marsh supermarket and converted a 30,000-square-foot Marsh store to the LoBill format.