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VILLAGE PROFIT RISES 67%, IMPROVED MARGINS CITED
SPRINGFIELD, N.J. -- Village Super Market here attributed improvements in net income during the first quarter ended Oct. 28 to increased gross margins. Sales dropped 0.5% from $167.4 million to $166.5 million. Comparable-store sales were flat.$83,000 to $139,000. Village said the jump was due to an increase in gross margins "as a result of improved product mix." Nevertheless, the gain was partially
January 1, 1996
1 Min Read
SPRINGFIELD, N.J. -- Village Super Market here attributed improvements in net income during the first quarter ended Oct. 28 to increased gross margins. Sales dropped 0.5% from $167.4 million to $166.5 million. Comparable-store sales were flat.
$83,000 to $139,000. Village said the jump was due to an increase in gross margins "as a result of improved product mix." Nevertheless, the gain was partially offset by higher operating and administrative expenses due to higher coupon and supply costs, the company said.
Village Super Market, a member of the Wakefern Food Corp. cooperative based in Elizabeth, N.J., operates 23 supermarkets under the ShopRite banner in New Jersey and Pennsylvania.
1ST-QUARTER RESULTS
Qtr Ended 10/28/95 10/29/94
Sales $166.5 million $167.4 million
Change - 0.5%
Net Income $139,000 $83,000
Change 67.5%
Inc/Share 5 cents 3 cents
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