MOBILE, Ala. -- Delchamps here said restructuring charges and the timing of the Easter holiday contributed to decreased sales and a net loss for the third quarter and 39-week period ended April 1.
For the 13-week period, the company had a net loss of $11.6 million, with a loss of $1.64 per share. This compares to net income of $3.6 million, or 50 cents per share, in the same quarter a year earlier.
For the year-to-date, Delchamps reported a net loss of $10 million, a $1.41-per-share loss, compared to earnings of $8.6 million, or $1.20 per share, a year ago.
Income results included a pretax restructuring charge of $15 million primarily for closed stores that have not been subleased. Excluding the restructuring charge, after-tax net loss was $2.6 million for the quarter and $1 million for 39 weeks, the company said.
Sales for 13 weeks were $255.6 million, down 3.6% from last year's corresponding 13-week period. Same-store sales decreased 6.3% for the quarter.
Sales for 39 weeks were $782.2 million, down 3% from the period last year. Same store sales decreased 5.8%.
Delchamps said sales were negatively affected by the timing of the Easter holiday, was in this year's the fourth quarter but last year's third quarter. During the quarter, the company opened one store, remodeled or expanded three, and closed five.