SPRINGFIELD, N.J. — Village Super Market here yesterday said increased traffic and higher average tickets helped boost sales and profitability in the company’s second fiscal quarter.
Bolstered by same-store sales gains of 5.9%, the 25-unit ShopRite operator said net income for the 13 weeks that ended Jan. 24 grew by 24%, to $7.96 million, on a 6.8% increase in sales, to $312.71 million. Year to date, net income was up 33%, to $14.32 million, on sales growth of 8.5%, to $603.7 million. Same-store sales for the 26-week span were up 5.1%.
The company attributed some of the sales growth to increased traffic at two stores that opened late in 2007, and said consumers “continue to be cautious due to concerns about the economy, resulting in continued increased sale-item penetration and trading down.”
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