BOSTON -- Stop & Shop Cos. here said an aggressive superstore expansion program contributed to increased sales and earnings for the fourth quarter and year ended Jan. 28. Earnings for 12 weeks rose 19.1% to $22.4 million. Earnings reflected an extraordinary charge of $137,000 for deferred financing costs relating to the early retirement of debt.
fficer, succeeded the retiring Lewis G. Schaeneman Jr. as chairman during the quarter. Schaeneman remains a member of the board and chairman of its executive committee.
Stop & Shop said it opened one superstore in Rhode Island during the quarter and 12 superstores during the fiscal year.
The operator now has 128 Stop & Shop supermarkets, including 100 superstores, in Connecticut, Massachusetts, New York and Rhode Island.
Last month, the company opened three more superstores in Rhode Island. It expects to open an additional 15, including three in Long Island, N.Y., and New Jersey, during fiscal 1995.
