LOS ANGELES -- Unified Western Grocers here said many of its independent retail members have been able to retain sales they picked up during the five-month strike in Southern California that ended in February.
sign for the future of our supply channel."
"We are very pleased with the results from our third quarter and the fiscal year to date," he said. "In addition to increasing our profitability by broadening our product selection and remaining vigilant about costs, many of our member retailers were successful in retaining additional business they received during the strike.
"Clearly, many consumers have decided that there's a lot to like about the independent retailers to which they've recently migrated."
The cooperative wholesaler said net income for the quarter totaled $2.3 million, up about 96% over year-ago results, on sales of $721.1 million, a 4.2% gain over last year's third quarter. UWG said earnings before estimated patronage dividends and income taxes totaled $8.3 million for the period, an improvement of 52.9% over year-ago results.
Through the first three quarters, net income rose 56.6%, to $5.5 million, on a sales increase of 12.6%, to $2.26 billion, compared with the first three quarters of last year. Earnings before estimated patronage dividends and income taxes in the 39-week period were $24.2 million, an increase of 49.5% over results from the preceding year.
The company also said its cash flow from operations was $62.9 million in the three-quarter period, and that it reduced its debt and other financing arrangements by $33.7 million, to $210 million, since the start of the fiscal year.