SPRINGFIELD, N.J. -- Village Super Market here attributed improvements in net income during the first quarter ended Oct. 28 to increased gross margins. Sales dropped 0.5% from $167.4 million to $166.5 million. Comparable-store sales were flat.
$83,000 to $139,000. Village said the jump was due to an increase in gross margins "as a result of improved product mix." Nevertheless, the gain was partially offset by higher operating and administrative expenses due to higher coupon and supply costs, the company said.
Village Super Market, a member of the Wakefern Food Corp. cooperative based in Elizabeth, N.J., operates 23 supermarkets under the ShopRite banner in New Jersey and Pennsylvania.