NEW YORK -- Improved performance of remodeled stores and one new opening helped boost sales 17.8% during the fiscal second quarter for Gristede's Foods here, the company said.
Gristede's opened one new store and completed one remodeling during the quarter.
The company has now remodeled approximately 70% of its stores. Gristede's plans eight additional remodels, two new store openings and three in-store pharmacies during the next year.
During the first half, sales rose 19.7% to $106 million. Net cash flow increased 24.7% to $2.9 million for the quarter and 35.7% to $6.2 million for the half.
Although earnings for the quarter fell 9.2% to $396,000, earnings for the first six months increased 66.1% to $1.4 million.