Arden Group, parent company of Encino, Calif.-based Gelson's Markets, said earnings rose and sales declined for the first quarter ended April 2.
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LOS ANGELES — Arden Group here, parent company of Encino, Calif.-based Gelson's Markets, said earnings rose and sales declined for the first quarter ended April 2.
Net income rose 11.7% to $5.7 million, while sales fell 0.6% to $104.2 million and same-store sales dropped 0.6% for the chain's 18 stores.
The company said last year's first quarter included sales from Easter and Passover, which did not occur until the second quarter this year.
Arden said it has signed an extension agreement with the United Food and Commercial Workers Union — pending the outcome of the union's negotiations with the three major chains in Southern California — that obligates Gelson's to any changes agreed to by the majors in wages and benefits.
