DELCHAMPS RESULTS IMPROVE

MOBILE, Ala. -- Delchamps here had positive earnings and strong sales increases for the third quarter and 39 weeks ended March 30.store sales rose 10.2% for the quarter and 7.9% for the 39 weeks. Net income was $1.1 million for the quarter and $1.2 million for the 39 weeks vs. losses in both periods a year ago -- the result of a pretax restructuring charge of $15 million, related primarily to closed

MOBILE, Ala. -- Delchamps here had positive earnings and strong sales increases for the third quarter and 39 weeks ended March 30.

store sales rose 10.2% for the quarter and 7.9% for the 39 weeks. Net income was $1.1 million for the quarter and $1.2 million for the 39 weeks vs. losses in both periods a year ago -- the result of a pretax restructuring charge of $15 million, related primarily to closed stores that had not been subleased in whole or in part, according to Delchamps.

Register to view the full article