RICHMOND, Va. -- Richfood Holdings here said a smooth integration of its retail acquisitions helped boost sales and earnings for the second quarter ended Oct. 17.
sition of the Farm Fresh and Shoppers Food Warehouse chains.
Second-quarter sales include $743.4 million in wholesale income, a 7.8% increase, and $404.2 million in retail income, a 466.1% increase, reduced by $238.4 million in intersegment sales -- sales to Richfood-owned stores, the company said.
Net income rose 0.6% to $15.1 million for the quarter and slipped 3.9% to $28.4 million for the 24 weeks, the company said.
According to John Stokely, chairman, "The solid performance demonstrated in our second quarter proves that Richfood is building on its legacy as a wholesaler and is successfully integrating the acquisitions of Farm Fresh and Shoppers Food Warehouse."