FREEHOLD, N.J. -- Foodarama Supermarkets here reported decreases in sales and earnings for the first quarter ended Jan. 28.
tion during the quarter, compared with 21 the prior year. Foodarama said it closed one store last June that contributed sales of $2.3 million in fiscal 1993.
Foodarama reported a loss of $168,000, or 2 cents per share, in the quarter vs. income of $40,000, or 1 cent per share, in the same period a year ago.
The company said it recorded an after-tax charge of $175,000, or 16 cents per share, in the quarter, related to an accounting change for postretirement benefits. Net income before the charge was $7,000.
As reported, Foodarama completed an agreement with NatWest Bank last month to refinance the company's $35 million debt.