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 2Q Profit Jumps

SPRINGFIELD, N.J. (AP) â¿¿ Village Super Market Inc. said Wednesday its fiscal second-quarter profit jumped 38 percent as its competitors shuttered stores, boosting sales at a handful of its locations.

For the quarter ended Jan. 28, the Springfield, N.J.-based company earned $9.1 million, or 66 cents per Class A share, up from $6.6 million, or 49 cents per share, in the same quarter last year.

Revenue rose 9.9 percent to $362.6 million from $329.9 million, boosted by the openings of two new stores in Maryland and a 6.2 percent increase in sales at stores open at least a year.

Sales at stores open at least a year is considered a key measure of a retailer's performance because it excludes the impact of recently opened or closed stores.

Village Super Market said its same-store sales got a boost from decisions by competitors to close stores near seven of theirs, which in turn increased business at those locations. At quarter-end, the company operated 28 supermarkets under the ShopRite name in New Jersey, Maryland and eastern Pennsylvania.

The company said its sales continue to be hurt by tough economic conditions and high unemployment this year. It projected a 2012 same-store increase of between 5 percent and 6.5 percent, with small increases coming in the second half of the year.

In afternoon trading, Village Super Market shares rose 78 cents, or 2.8 percent, to $28.49.
Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs