SALT LAKE CITY -- Smith's Food & Drug Centers here reported increased overall sales but lower same-store sales for the third quarter ended Oct. 1.
ose 68% to $13.3 million.
Last year's third-quarter income was reduced by a tax-rate adjustment of $2.6 million, or 9 cents per share. After adjusting for the change, net income for the quarter was up 27%.
Robert D. Bolinder, Smith's executive vice president, said the earnings improvement for the third quarter can be a