BELLEVUE, Wash. -- Quality Food Centers here said acquisitions and remodels contributed to higher sales during the first quarter ended March 25.
However, continued food price deflation and increased competition offset some of those gains. And a one-time charge related to the 60-store chain's recently completed recapitalization depressed income.
Net earnings for the 12-week period were $3.8 million, down 30.6% from last year. Earnings for the latest quarter reflected $1.4 milli