LOS ANGELES -- Smart & Final here reported increased sales and earnings for the third quarter ended Oct. 9.
te. Same-store sales were up 4.7% for the quarter and 5.6% for the 40 weeks.
Net income for the quarter rose 11.5% to $5.8 million and included a loss of $600,000, or 2 cents per share, resulting from last January's earthquake in Southern California.
For the year to date, the company reported net income of $13.5 million, compared with a loss of $785,000, or 63 cents per share, a year ago resulting from a nonrecurring first-quarter charge relating to adoption of new accounting standards. Excluding that charge, net income of $13.5 million for the 40 weeks reflected an increase of 11.9%, the company said.
Smart & Final plans to expand its Port Stockton, Calif., distribution center -- from a $65 million capacity to $300 million.
