SPRINGFIELD, N.J. -- Village Super Market here last week said increased expenses for health and pension plans and higher spending on promotions contributed to reduced profitability for the fourth quarter and fiscal year ended July 26.
down 30% from year-ago levels, while sales increased 2.3%, to $230.5 million. Same-store sales also grew 2.3%. Operating income was $5.4 million, down 23% from the preceding year.
Operating and administrative expenses totaled 22% of sales in the quarter, vs. 21.6% of sales in the preceding-year period.
For the year, net income totaled $11.1 million, down 11.6% from the net income of a year ago. Sales increased 2.2%, to $902.4 million. Same-store sales grew 1.6%. Operating income was down 13%, to $20.2 million.
Operating and administrative expenses for the full year were 21.7% of sales, vs. 21.5% in the prior fiscal year.
