SPRINGFIELD, N.J. -- Village Super Market here said sales in the 14-week fourth quarter of fiscal 1999 ended July 31 rose 18.6% to $215.4 million, same-store sales increased 6.5% and net income grew 84% to $2.99 million, not including a pre-tax surcharge resulting from litigation regarding the purchase price of a store site.
The company said the fourth-quarter growth in net income was a result of the same factors plus a substantial increase in gross-margin percentages, partially offset by the increased costs from the doubling of manufacturer coupons.
Sales for the year were up 9.2% to $768.1 million, same-store sales increased 6.0% and net income rose 57% to $6.28 million, not including the special charge for litigation.