C&S Sales Flat, Profits Down
C&S Wholesale Grocers here experienced flattish sales for the second quarter and first half that ended March 27, according to industry sources who were privy to the company's public financial disclosure last week. The sources told SN that C&S' sales for the quarter were $4.8 billion, up 0.4% boosted slightly by the addition of $76 million in revenues from Bruno's, Birmingham, Ala. while
May 17, 2010
ELLIOT ZWIEBACH
KEENE, N.H. — C&S Wholesale Grocers here experienced flattish sales for the second quarter and first half that ended March 27, according to industry sources who were privy to the company's public financial disclosure last week.
The sources told SN that C&S' sales for the quarter were $4.8 billion, up 0.4% — boosted slightly by the addition of $76 million in revenues from Bruno's, Birmingham, Ala. — while net income declined 20.8% to $19 million. For the first half, sales fell 0.3% to $9.7 billion, and net income remained unchanged at $40 million, sources said.
C&S officials declined comment to SN last week.
The numbers were shared with bondholders and others last week during the wholesaler's first-ever quarterly conference call, which C&S was required to host following a $300 million bond issue in mid-April. Members of the media were excluded from the call.
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