SALT LAKE CITY -- Smith's Food & Drug Centers here said competitive store openings in most of its markets and aggressive price competition in recession-plagued southern California contributed to decreases in earnings and same-store sales for the third quarter and 39 weeks ended Sept. 30. For the quarter, net income fell 17.1% to $11.1 million. For nine months, net income slipped 14.5% to $29.6 million. Same-store sales fell 1.8% for the quarter and 3.6% for the year-to-date. Overall, ...
REGISTER TO VIEW THIS ARTICLE - Register for a Free Account
Registering for content on Supermarket News will give youINSTANTaccess to invaluable articles and media content that industry professionals rely on. You will have access to our special reports, feature articles, and industry analysis. It’sFREE, easy and quick. What are you waiting for!In addition you will also receive a complimentary copy of SN's salary survey sent to you by email.
Attention Paid Print Subscribers: While you have already been grantedfreeaccess to SNwe ask that youregister now.We promise it will only take a few minutes! Or visit your profile and add your print magazine account number and zip code.