SMITH'S NET FALLS 15% IN 2ND PERIOD

SALT LAKE CITY -- Smith's Food & Drug Centers here said net income fell 15.1% to $11.9 million in the second quarter ended July 2.pany said was due in part to the timing of the Easter holiday. After adjusting same-store results for the Easter holiday, Smith's said, the decline would have been 1.9%.Smith's attributed its lower earnings "to continuing pressure from opening new stores in the recession-plagued

SALT LAKE CITY -- Smith's Food & Drug Centers here said net income fell 15.1% to $11.9 million in the second quarter ended July 2.

pany said was due in part to the timing of the Easter holiday. After adjusting same-store results for the Easter holiday, Smith's said, the decline would have been 1.9%.

Smith's attributed its lower earnings "to continuing pressure from opening new stores in the recession-plagued California market, the company's very aggressive pricing program

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