LOS ANGELES — Arden Group, parent company of Gelson's Markets, said earnings declined and sales increased for the fourth quarter and fiscal year, which ended Dec. 31.
Net income for the quarter fell 22% to $4.3 million, while sales increased 4.1% to $114.5 million. For the year net income dipped 6% to $17 million while sales rose 3% to $429.5 million.
The company said the sales increases were due primarily to inflation and an increase in the number of transactions, as well as an improvement in the economic environment in Gelson's trade area.
Arden operated 18 Gelson's locations throughout 2011. The company closed a Gelson's in Northridge, Calif., during the first quarter of the current fiscal year, on Feb. 25.