FREEHOLD, N.J. -- Third-quarter earnings at Foodarama Supermarkets here fell 13.9% compared with the year-ago results, said the company last week.
d that some stores experienced decreased sales as the result of competitive openings.
Earnings of $496,000, or 48 cents a share, were down from $576,000, or 57 cents a share, in the same period last year. Increases in interest expense, depreciation and amortization affected earnings, Foodarama said. Earnings before interest, taxes, depreciation and amortization (EBITDA) increased to $10.8 million from $8.9 million in the year-ago quarter.
Foodarama, a Wakefern Food Cooperative member that operates ShopRite stores in New Jersey, said new locations in North Brunswick, Hamilton, Lawrenceville and Aberdeen, as well as a Bordentown location purchased from Wakefern, contributed to the sales increase. The North Brunswick and Aberdeen stores replaced older, smaller stores.
