NEW YORK -- Gristedes Foods here said the expenses incurred by the company's new store and store remodeling program caused it to record a loss in fiscal 2002 despite a gain in net sales. For the 52-week year ended Dec. 1, Gristedes said sales rose 9% to $250.7 million and same-store sales were up 7.1%, but the company experienced a net loss of $926,407 or 5 cents a share, compared with net earnings
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NEW YORK -- Gristedes Foods here said the expenses incurred by the company's new store and store remodeling program caused it to record a loss in fiscal 2002 despite a gain in net sales. For the 52-week year ended Dec. 1, Gristedes said sales rose 9% to $250.7 million and same-store sales were up 7.1%, but the company experienced a net loss of $926,407 or 5 cents a share, compared with net earnings of $275,057 or 1 cent a share in 2001.
h is a part of the previous number as well), up 37.5% to $2.2 million; and pre-store opening startup costs, up 349% to $741,570. Capital expenditures at the company rose 54.1% to $18.8 million in 2002. Gristedes said it expects to spend between $8 million and $10 million on capital expenditures in 2003.
