Nash Finch Sees More Buying Opportunities

Nash Finch foresees more opportunities to acquire other businesses, especially in the distribution space, although no such deals are “under way or imminent,” Alec Covington, president and chief executive officer, said in a conference call yesterday discussing fourth-quarter results.

MINNEAPOLIS — Nash Finch here foresees more opportunities to acquire other businesses, especially in the distribution space, although no such deals are “under way or imminent,” Alec Covington, president and chief executive officer, said in a conference call yesterday discussing fourth-quarter results. The company swung to profitability in the period, posting net income of $8.5 million, vs. a loss of $26.4 million a year ago. Sales for the fourth quarter fell slightly, to $1.07 billion, vs. $1.1 billion in the year-ago quarter, following the loss of Martin’s Super Markets as a distribution customer. For the full year, net income totaled $38.8 million, compared with a loss of $23 million a year ago, as sales slid about 2.1%, to $4.53 billion. Same-store sales fell 1.2% for the quarter and 0.8% for the year. The company is converting one store to the Hispanic-focused Avanza banner in Omaha, Neb., next week, and another in Greeley, Colo., by July.

Read More of Today's Headlines [2]