DELCHAMPS NET FALLS 42% IN QUARTER

MOBILE, Ala. -- Delchamps here said new competition and a battle for market share led to "disappointing" earnings in the first quarter ended Oct. 1.ing changes. The accounting changes reduced last year's first-quarter net by $700,000.Sales in the 13-week quarter declined 0.1% to $266.2 million. Same-store sales fell 3.1%.Randy Delchamps, chairman, president and chief executive officer, said stepped-up

MOBILE, Ala. -- Delchamps here said new competition and a battle for market share led to "disappointing" earnings in the first quarter ended Oct. 1.

ing changes. The accounting changes reduced last year's first-quarter net by $700,000.

Sales in the 13-week quarter declined 0.1% to $266.2 million. Same-store sales fell 3.1%.

Randy Delchamps, chairman, president and chief executive officer, said stepped-up competition pressured the company's earnings in the quarter.<

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