LANDOVER, Md. -- Giant Food here said lower gross margins continued to pressure earnings in the second quarter ended Aug. 13. .6 million, or 1.84% of sales, in last year's second quarter. "Earnings remain impacted by lower gross margins and increased selling expenses, principally in union health and welfare benefits, and payrolls," Giant said. Sales increased 3.8% in the quarter to $826.4 million and same-store sales rose 1.37%. Giant said if the effect of cannibalization by new stores ...
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