Village Tempers Outlook for Third-Quarter Sales

SPRINGFIELD, N.J. — Village Super Market here, which operates 25 ShopRite stores in New Jersey, this week said it expects same-store sales in the current quarter to be impacted by “cautious” behavior on the part of consumers. The company said same-store sales for its fiscal third quarter, which began Jan. 27, would be in the range of -1% to 1%, reflecting shoppers’ “concerns about the economy and rising food and fuel prices.” That compares with same-store sales gains of 2.3% in the second quarter. In that 13-week period, the company said net income rose 27%, to $6.44 million, compared with results from the year-ago second quarter. Sales rose 8.3%, in part due to the opening of two new stores. Through the first 26 weeks, net income was up 16%, to $10.74 million, on sales gains of 6.6%, to $556.4 million, including same-store sales gains of 2.9%.

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