FREEHOLD, N.J. -- Foodarama Supermarkets here said the opening of two new stores helped boost sales for the first quarter ended Feb. 1, although economic and competitive pressures resulted in a same-store sales decline.
lion.
During the quarter Foodarama opened a new store in Ewing, N.J., and a replacement store in Woodbridge, N.J. The company said it attributed the decline in same-store sales to a softening in the economy, the effect of competitive store openings and the impact of deflation in certain product categories.
The company said the reasons for the decline in earnings were a drop in comparable-store sales, expenses related to two new store openings and contractual fringe-benefit increases.
