PUEBLO CITES HURRICANE AS SALES SLIP, NET RISES

SAN JUAN, Puerto Rico -- Pueblo Xtra International here said the aftermath of Hurricane Georges in September 1998 resulted in lower sales and higher earnings for the second quarter and 28 weeks ended Aug. 14.

illion for the half, while sales in the retail food division dropped 16.8% for the quarter and 14.8% for the year to date.

The company said food- store sales comparisons -- excluding results at four stores closed as a result of Hurricane Georges -- were affected by the aftermath of the hurricane and the disruptions caused by repairing storm damage, as well as increased competition. Net income rose 92.9% to $5.4 million for the quarter and 112.1% to $7 million for the half and included the effect of a net gain of $8.4 million from the settlement of an insurance claim resulting from the hurricane, plus a net loss of $1.2 million for the half reflecting the effect of the loss on a sale-leaseback transaction during the first quarter.