BOISE, Idaho -- Albertson's here said it opened 35 new stores during the first quarter ended April 30, including 20 from recent acquisitions -- 10 Seessel's Supermarkets in the Memphis market and 10 Smitty's stores in Southwest Missouri.
or 45 cents per share, compared with $109.3 million, or 43 cents per share, in the year-ago quarter.
Operating results for the quarter were negatively impacted by a $29.4 million charge related to the closing of 16 under-performing stores in eight states in the fiscal year. Excluding the charge, first quarter net earnings would have increased 18.1% to $129.0 million, or 52 cents per share, the company said.
1ST-QUARTER RESULTS
Qtr Ended 4/30/98 5/1/97
Sales $3.8 billion $3.6 billion
Change + 6.7%
Same-store - 0.5%
Net Income $110.6 million $109.3 million
Change + 1.2%
Inc/Share 45 cents 43 cents
Reflects extraordinary charge of $29.4 million related to store closings.
