GREAT FALLS, Mont. -- Buttrey Food & Drug Stores here said net income increased 648% to $187,000 from $25,000 for the first quarter ended April 29.
During the quarter, the 40-store company recorded a net gain of $255,000 due to the sale of land and a distribution center in Payson, Utah, to Associated Food Stores, Salt Lake City. The chain also incurred an extraordinary charge of $85,000 from the early retirement of debt.
Sales for 13 weeks dropped 11.2% to $87.2 million. C