FEWER STORES, SALES DOWN, EARNINGS UP AT FLEMING

DALLAS -- Fleming here said last week the divestiture of conventional stores resulted in a sales decline while ongoing efforts to cut costs and improve productivity enabled net income to increase for the first quarter ended April 21.The company also said its transition to becoming the sole wholesale supplier for Kmart Corp. is on schedule and, in some instances, ahead of schedule, with the transition

DALLAS -- Fleming here said last week the divestiture of conventional stores resulted in a sales decline while ongoing efforts to cut costs and improve productivity enabled net income to increase for the first quarter ended April 21.

The company also said its transition to becoming the sole wholesale supplier for Kmart Corp. is on schedule and, in some instances, ahead of schedule, with the transition on target to be completed by July 1.

Sales for the 16-week quarter fell 0.4%

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