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SCRIVNER NET RISES 57% IN FIRST QUARTER

OKLAHOMA CITY -- Scrivner here said net income increased 56.9% to $6.2 million in the first quarter ended March 19.lies almost 2,900 stores, did not break down sales for its retailing and wholesaling operations.As reported, Scrivner's parent company, Franz Haniel & Cie. of Germany, agreed earlier this month to sell Scrivner to Fleming Cos., also based here. The deal could close by mid-summer.The earnings

June 27, 1994

1 Min Read
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OKLAHOMA CITY -- Scrivner here said net income increased 56.9% to $6.2 million in the first quarter ended March 19.

lies almost 2,900 stores, did not break down sales for its retailing and wholesaling operations.

As reported, Scrivner's parent company, Franz Haniel & Cie. of Germany, agreed earlier this month to sell Scrivner to Fleming Cos., also based here. The deal could close by mid-summer.

The earnings increase was due to an easier comparison with last year's quarter, when Scrivner acquired 33 stores in New York from Peter J. Schmitt Co., a Scrivner executive told SN. Operating profit increased 12.3% in the quarter to $21.9 million.

1ST-QUARTER RESULTS

Qtr. Ended 3/19/94 3/20/93

Sales $1.35 billion $1.34 billion

Change 1.0%

Net Income $6.2 million $3.96 million

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