HOUSTON -- Randalls Food Markets here said sales and operating cash flow increased and earnings were positive for the year and fourth quarter ended June 27.
g cash flow increased 30.6% to $124.2 million, or 5.1% of sales, compared with $95.2 million, or 4.1% of sales a year ago.
For the 12-week fourth quarter, sales rose 5% to $567.2 million, while same-store sales jumped 8.7%. Net income was $4.3 million compared with a loss last year, and operating cash flow rose 74.8% to $28.6 million, or 5% of sales, compared with $16.3 million, or 3%, a year ago.
According to Randall Onstead, chairman and chief executive officer, "The strong growth in sales at Randalls and Tom Thumb stores resulted from our successful marketing, merchandising and store-remodeling programs."
"With the opening of 13 new stores, continued remodeling of our store base this year and attention to giving customers what they want at competitive prices, we are positioned to expand our customer base further."
Randalls operates 116 stores, including 50 Randalls units here; 12 Randalls stores in Austin, Texas; and 54 Tom Thumb stores in the Dallas/Fort Worth area.