Village Super Market 4Q Profit Falls On Charge
SPRINGFIELD, N.J. (AP) ¿ Village Super Market Inc., which runs Shop Rites in New Jersey and eastern Pennsylvania, said Friday that its profit fell 3 in the fiscal fourth quarter due to a litigation charge.
Earnings dipped to $6.7 million, or 50 cents per share, compared with $6.9 million, or 52 cents per share, a year earlier.
The company said its quarterly results were hurt by a $708,000 litigation charge.
Sales for the period ended July 25 grew 4 percent to $310.9 million from $298 million on the opening of a store in Marmora, N.J. and a 4.3 percent rise in sales at stores open at least a year, which are known as same-store sales.Same-store sales are a key indicator of retailer performance since they measure growth at existing stores rather than newly opened ones. Like other supermarket operators, Village Super Market has benefited from shoppers eating at home more during the recession. Full-year profit increased 21 percent to $27.3 million, or $2.06 per share, from $22.5 million, or $1.71 per share, in the previous year. Annual sales rose 8 percent to $1.21 billion from $1.12 billion. Village Super Market runs 26 Shop Rites in New Jersey and Pennsylvania. The company's shares fell 9 cents to $29.06 in morning trading.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV