FRED MEYER REPORTS SALES RISE, NET SLIDES

PORTLAND, Ore. -- Fred Meyer Inc. here reported that net sales increased, but same-store sales and earnings decreased, in the second quarter and first half ended Aug. 12.For the quarter, sales increased 5.2% to $775.8 million. Overall, comparable-store sales decreased 1.2%. Comparable nonfood sales decreased 3.1% but comparable food sales increased 1.5%.Net income dropped 44.3% to $10.7 million in

PORTLAND, Ore. -- Fred Meyer Inc. here reported that net sales increased, but same-store sales and earnings decreased, in the second quarter and first half ended Aug. 12.

For the quarter, sales increased 5.2% to $775.8 million. Overall, comparable-store sales decreased 1.2%. Comparable nonfood sales decreased 3.1% but comparable food sales increased 1.5%.

Net income dropped 44.3% to $10.7 million in the quarter. Income from operations dropped 30.8% to $25.2 million.

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