SPRINGFIELD, N.J. — Improved sales and lower expenses helped drive profits up by 9% to $6.9 million during the fourth quarter for Village Super Market here, the retailer said Thursday. Sales of $298 million for the quarter increased 10.7% compared with the same period a year ago, and same-store sales increased by 3.6%. Food cost inflation, along with the closing of one competitor and increased sales from replacement stores, helped drive the sales increase and offset decreased sales from new competitors and cannibalization, Village said. While transaction size and count were up, Village acknowledged that shoppers were buying more sale items and “trading down,” due to concerns over the economy. For the fiscal year, which ended July 26, sales of $1.1 billion increased 7% and net earnings of $22.5 million increased by 10%. Village operates 25 ShopRite stores.
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