DELCHAMPS FEELS SQUEEZE ON MARGINS

MOBILE, Ala. -- Delchamps here said pressure on its gross margins contributed to lower earnings for the year and fourth quarter ended July 2.Sales rose 3.2% to $1.07 billion in 52-week fiscal 1994. After adjusting results from fiscal 1993, a 53-week year, the company said the annual sales increase would have been 5.5%. Same-store sales rose 1.2% for the year.Net income fell 23.8% to $11 million for

MOBILE, Ala. -- Delchamps here said pressure on its gross margins contributed to lower earnings for the year and fourth quarter ended July 2.

Sales rose 3.2% to $1.07 billion in 52-week fiscal 1994. After adjusting results from fiscal 1993, a 53-week year, the company said the annual sales increase would have been 5.5%. Same-store sales rose 1.2% for the year.

Net income fell 23.8% to $11 million for the year and 44.4% to $2.3 million for the 13-week fourth quarter. The retail

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