This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Village Super Market, Inc. Reports Results For The Quarter And Year Ended July 31, 2010

SPRINGFIELD, N.J., Oct. 8, 2010 (GLOBE NEWSWIRE) -- Village Super Market, Inc. (Nasdaq:VLGEA) today reported its results of operations for the fourth quarter and year ended July 31, 2010.

Net income was $8,897,000 in the fourth quarter of fiscal 2010, an increase of 33% from the fourth quarter of the prior year. Fiscal 2010 contains 53 weeks, with the additional week included in the fourth quarter. Excluding the $1,200,000 estimated positive impact of this 53 rd week and a $708,000 after tax charge related to litigation in the fourth quarter of fiscal 2009, net income increased 4% in the fourth quarter compared to the prior year. 

Sales were $342,741,000 in the fourth quarter of fiscal 2010, an increase of 10.2% from the prior year. Sales increased due to the inclusion of the 14 th week in the fourth quarter of fiscal 2010, the opening of the Washington replacement store on February 21, 2010, and a full quarters sales of the Marmora store, which opened on May 31, 2009. Same store sales, excluding the 14 th week, were flat in the fourth quarter compared to the prior year. Same stores sales continue to be affected by cannibalization from the opening of the Marmora store and reduced sales in two stores due to competitive store openings. In addition, sales continue to be impacted by changing consumer behavior due to economic weakness, which has resulted in increased coupon usage, sale item penetration and trading down. The Company expects same store sales for all of fiscal 2011 to range from 0% to 2%, excluding the impact of the 53 rd week, as we expect the deflationary trend to end. 

Net income in fiscal 2010 was $25,381,000, a decrease of 7% from the prior year. Excluding the estimated positive impact of the 53 rd week in fiscal 2010 and the litigation charge in the prior year, net income decreased 13%. Sales in fiscal 2010 were $1,261,825,000 an increase of 4.4% from the prior year. Same store sales, excluding the impact of the 53 rd week, declined .7%. Net income in fiscal 2010 declined compared to the prior year due to lower same store sales and reduced gross profit percentages.

Village Super Market operates a chain of 26 supermarkets under the Shop Rite name in New Jersey and eastern Pennsylvania.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
TSLA $213.67 1.00%
YHOO $36.92 -0.05%
AAPL $92.10 -1.20%
FB $118.55 0.63%
GOOG $706.22 0.68%


Chart of I:DJI
DOW 17,641.30 -19.41 -0.11%
S&P 500 2,043.09 -7.54 -0.37%
NASDAQ 4,689.4880 -27.6060 -0.59%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs