Annual Earnings Up 17% at Gelson's Parent

LOS ANGELES -- Arden Group, the parent of Gelson‘s Markets here, earned $23.2 million on sales of $482.7 million for the fiscal year ended Dec. 30. Earnings increased by 17% compared with 2005, while sales for the year and the fiscal fourth quarter increased by 2.6%, the company said. Comparable-store sales were also up 2.6% for the quarter and the year. Sales growth was sparked by pricing decisions and higher customer counts, the company said. Gross profit as a percent of sales was 38.6% for the year, compared with 38.4% a year ago.