GRISTEDES: NEW STORES IMPACT RESULTS

NEW YORK -- Gristedes Foods here said last week its new stores program had negatively impacted earnings in the 13-week first quarter ended March 2 and would continue to hurt earnings in the second quarter and the rest of fiscal 2003.company noted that its gross profit as a percentage of sales declined because of newly opened stores, "which have promotional pricing."Also, Gristedes said its store operating,

NEW YORK -- Gristedes Foods here said last week its new stores program had negatively impacted earnings in the 13-week first quarter ended March 2 and would continue to hurt earnings in the second quarter and the rest of fiscal 2003.

company noted that its gross profit as a percentage of sales declined because of newly opened stores, "which have promotional pricing."

Also, Gristedes said its store operating, general and administrative costs increased as a percentage of sales b

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