RICHMOND, Va. -- Richfood Holdings here said last week the addition of two retail chains helped boost sales in its wholesale and retail divisions for the first quarter ended July 25. The company said the quarter contained a full 12 weeks of results from Farm Fresh, Norfolk, Va., a 45-store chain acquired by Richfood in March, and 10 weeks of results for Shoppers Food Warehouse, Lanham, Md., a 38-store chain acquired in May.
greement with Acme Markets, Malvern, Pa., in June 1997, wholesale sales would have increased 2.8%, the company said.
Retail grocery sales were up 429% to $391 million for the quarter because of the two acquisitions, the company said. In addition, intersegment sales totaled $204 million. John E. Stokely, chairman, president and chief executive officer, said the integration of Farm Fresh and Shoppers with existing wholesale and retail operations, "although not yet complete, is on track.
"One very positive benefit of these acquisitions is the ability of Richfood to profitably ship products to Farm Fresh and Shoppers that had previously been supplied by other distributors. The full benefit of the integration, including incremental wholesale volume, should be realized in the third and fourth quarters of this fiscal year."
