BOSTON (Thomson Financial) - Village Super Market Inc. Wednesday reported
flat third-quarter net income of $4.9 million, or 75 cents a share.
The Springfield, N.J.-based company said net income was flat primarily
because of low same-store sales growth, higher operating expenses as a
percentage of sales, increased depreciation and lower interest income, partially
offset by improved gross profit percentages.
Revenue for the quarter rose 7.1% to $273.4 million from $255.3 million a
year earlier. Village Super Market attributed the increase to new store
openings.
Same-store sales rose 0.4% in the third quarter.
Shares closed Tuesday at $45.81.
Casey Logan
cl/pc
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