RICHMOND, Va. -- Net income at Richfood Holdings here jumped 22.4% for the first quarter, in part due to efficiencies gained from consolidation since last year's acquisition of Super Rite Corp., Harrisburg, Pa.
es dipped 1.8% to $753.4 million from $767 million. Excluding the extra week in the prior-year quarter for Super Rite, sales rose 2%, Richfood reported. The increase primarily stemmed from sales to customers that have expanded retail operations, greater sales penetration and higher sales in Richfood's Metro/Basics retail division, the company said. Metro/Basics' comparable-store sales were flat in the quarter but, excluding the quarter's extra week a year ago, rose 6% on a total-store basis.
"Our recent formation of four operating business units -- Richfood/Virginia, Richfood/Pennsylvania, Metro/Basics and Richfood Dairy -- has allowed us to centralize certain functions to provide common services to the four units and to avoid redundant overhead," according to Donald D. Bennett, chairman and chief executive officer.
