Skip navigation

Unified 2Q Sales Up, Earnings Down

Unified Western Grocers here said new store openings and growth in specialty food categories boosted sales, while a non-recurring charge resulted in lower earnings during the second quarter and first half ended March 31.

LOS ANGELES — Unified Western Grocers here said new store openings and growth in specialty food categories boosted sales, while a non-recurring charge resulted in lower earnings during the second quarter and first half ended March 31. Unified announced earlier this month it has signed a letter of intent to purchase Associated Grocers, Seattle. Net income at Unified fell 10.5% to $3.6 million for the 13-week quarter and 28.3% to $7 million for the year to date, while patronage dividends dropped 17.7% to $9.9 million for the quarter but rose 7.7% to $22.3 million for the half. Sales rose 6.1% to $753.6 million for the quarter and 5.1% to $1.5 billion for the half. The company said it attributed the sales increases to new stores opened by members and continued sales growth in gourmet, ethnic foods and natural and organic products; it said the drop in earnings was due principally to a non-recurring insurance reserve adjustment in 2006, while the increase in the patronage dividend during the half was a result of higher sales combined with operating improvements.

Read More of Today's Headlines

TAGS: News