Arden Sees Comps Fall 9.1% in Q3
Nov 13, 2009 6:00 AM, By ELLIOT ZWIEBACH
LOS ANGELES — Arden Group, parent company of Gelson's Markets, Encino, Calif., said it is implementing new marketing programs to retain and attract customers in the face of increased competition that generally reduced its financial results for the third quarter.
Arden operates 18 upscale Gelson's stores. Net income for the 13-week quarter rose 13.5% to $4.7 million — due primarily to a significant reduction in expenses related to stock appreciation rights, the company noted — while sales fell 9.1% to $103.8 million and comparable-store sales also fell 9.1%. For the 39-week period net income dropped 12.1% to $15.2 million, while sales declined 8.3% to $320.5 million and comps were also down 8.3%.
Read More of Today's Headlines
Read More of Today's Headlines
Acceptable Use Policy blog comments powered by Disqus
Subscribe / Renew to Supermarket News
The most reliable source of industry news and insight...in print and online.
- Subscribe Today and gain instant access to the online SN Archive
- Renew
- Sign up for email newsletter
advertisement
Rick Brindle
View All Online Grocery Questions
Diane Tielbur
View All Occasion Based Marketing Questions
Viewpoints
David Orgel: Wider Turf War Between Supermarkets, Restaurants
Supermarkets are stepping up their restaurant-quality, ready-to-eat food offerings...
Connective Politics Pay Off in Interchange Reform
It's safe to say that Rich Niemann Sr. and Sen. Dick Durbin, D-Ill., don't see eye to eye on all issues...
advertisement
Most Viewed News
SN Editorial Videos
The Lempert Report
Marketing analysis, issues and trends from supermarket industry analyst Phil Lempert.
The Role of Technology at Save Mart Supermarkets
Aashish Chandra, senior director of IT Save Mart, talks about his company's approach to technology.
SN Sponsored Videos
Pan-Oston Mobile Innovation Centers Tour
The Supermarket Guru shows the front-end technology you can experience during the tour.




ShareThis









