FRED MEYER SHOWS SIGNS OF RECOVERY

PORTLAND, Ore. -- Lower distribution costs, improved food and nonfood sales and an aggressive marketing program are driving a rebound at Fred Meyer Inc. here, whose earnings had been crippled by a 1994 strike.In the 16-week first quarter ended May 25, net income surged 206.3% to $9.4 million (33 cents a share) from $3.1 million (11 cents a share) a year ago, the supercenter chain reported. Sales jumped

PORTLAND, Ore. -- Lower distribution costs, improved food and nonfood sales and an aggressive marketing program are driving a rebound at Fred Meyer Inc. here, whose earnings had been crippled by a 1994 strike.

In the 16-week first quarter ended May 25, net income surged 206.3% to $9.4 million (33 cents a share) from $3.1 million (11 cents a share) a year ago, the supercenter chain reported. Sales jumped 11.2% to $1.04 billion from $935.4 million. Same-store sales rose 5.1% vs. a 4.9%

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