LOS ANGELES -- Smart & Final here said last week more stringent cost controls helped return the company to profitability during the year and fourth quarter ended Jan. 2.
income was $1.7 million, or 6 cents per share, compared with a loss of $13.6 million, or a 60-cent loss, a year ago.
Sales for the year rose 7.9% to $1.8 billion, while same-store sales jumped 5.3%. For the quarter, sales increased 5% to $420.3 million, while same-store sales rose 8.5%.
Ross Roeder, chairman and chief executive officer, said the company was pleased "with the progress we've made since our restructuring began early in 1999.
