Converted Stop & Shop Drives Sales at Village

SPRINGFIELD, N.J. — New sales from a converted Stop & Shop store helped boost quarterly sales by 4.8% for Village Super Markets here, the retailer said Wednesday. The new store, in Galloway Township, N.J., was acquired from Stop & Shop earlier this year and reopened under the ShopRite banner in October, said Village, which operates 25 ShopRite locations. For the fiscal first quarter ending Oct. 27, Village reported net income of $4.3 million on sales of $263.6 million. Earnings were up by 2% as aggressive promotions contributed to reduced gross margins, Village said. Same-store sales improved by 3.6%, reflecting higher sales from a replacement store in Somers Point, N.J., and one closure by a competitor.

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