AMERICAN POSTS RISE IN FIRST-QUARTER NET

SALT LAKE CITY -- American Stores here last week reported a 15.6% increase in net income in the first quarter ended April 30. Sales, however, declined 1.3% in the 13-week period.Earnings totaled $48 million in the quarter, or 34 cents per share, compared with $41.5 million, or 29 cents per share, in last year's first quarter.Earnings in the current quarter were reduced by 5 cents per share for charges

SALT LAKE CITY -- American Stores here last week reported a 15.6% increase in net income in the first quarter ended April 30. Sales, however, declined 1.3% in the 13-week period.

Earnings totaled $48 million in the quarter, or 34 cents per share, compared with $41.5 million, or 29 cents per share, in last year's first quarter.

Earnings in the current quarter were reduced by 5 cents per share for charges related to the closing of a data center and a voluntary severance program

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