LOS ANGELES — Unified Grocers here said gains from acquired business in Seattle and a broad variety of offerings to meet changing consumer demand helped boost sales and earnings for the third quarter and the 39 weeks that ended June 28.
Net income for the member-owned cooperative rose 11% to $4.8 million for the 13-week quarter and 7.7% to $12.2 million for the year to date. The company said increases from the former operations of Associated Grocers, Seattle, which Unified acquired last fall, combined with inventory holding gains resulting from vendor price increases, helped boost income.
Sales jumped 28.6% to $1 billion for the quarter, including $194.5 million in business gained in the Pacific Northwest from the AG acquisition. Unified said continued growth in its existing customer base, plus inflation, contributed an additional 3.3% in sales gains. For the 39-week period, net income increased 31.6% to $3.1 billion, including $617.3 million from the acquisition.
“Even without the gains from our Seattle division, we are doing well in a difficult business environment,” said Al Plamann, president and chief executive officer. “Additionally, our wide product offering is allowing retailers to quickly adjust to changing consumer preferences at shelf level, ensuring the right products are available at precisely the right time, which is critical in this economic environment.”