LOS ANGELES — Arden Group, parent company of the 18-unit Gelson's Markets, reported lower sales and earnings for the third quarter and 39-week period that ended Oct. 2.
Net income for the 13-week quarter fell 26% to 3.5 million, while sales dropped 2.9% to $100.3 million and same-store sales decreased 3.3%.
For the 39-week period net income fell 17.4% to $12.5 million, while sales fell 4.2% to $307 million and comps dropped 4.2%.
The company said operating income was negatively impacted by an increase in the company's health and welfare contribution beginning in March, while sales "continue to be negatively impacted by economic conditions and competition."
