SMITH'S SHAREHOLDERS ARE TOLD TO EXPECT 2ND-HALF REBOUND

SALT LAKE CITY (FNS) -- Increased profitability should characterize Smith's Food & Drug Centers' second half, Jeffrey P. Smith, chairman and chief executive officer, told shareholders at the chain's annual meeting here.Smith told shareholders the 133-store chain has been faced with declining net income because of the continued unprofitability of its newest marketing area in southern California and

SALT LAKE CITY (FNS) -- Increased profitability should characterize Smith's Food & Drug Centers' second half, Jeffrey P. Smith, chairman and chief executive officer, told shareholders at the chain's annual meeting here.

Smith told shareholders the 133-store chain has been faced with declining net income because of the continued unprofitability of its newest marketing area in southern California and the draining effects of its aggressive pricing program in Utah.

Smith's rep

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