LOS ANGELES — Arden Group, parent of the 18-unit Gelson's Markets chain here, on Friday said in a filing with the Securities and Exchange Commission that competitive pressures impacted the company’s sales in 2007, offset to some degree by inflation. Net income for the 13-week fourth quarter, which ended Dec. 29, was down about 2.7%, to $7.36 million, on a sales decline of about 1%, to $126.3 million, compared with year-ago results. For the full year, net income rose 25.8%, to $29.2 million, on a sales increase of 0.7%, to $485.9 million. “Sales during 2007 were influenced by increased competition in our trade area from new competitors entering our market,” the company said in the SEC filing. “In addition, the merger trend amongst our competitors resulted in larger companies that possess stronger market recognition.”
Read More of Today's Headlines
