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