Arden Posts Profit Gains in 2Q

Arden Group, parent of the 18-unit Gelson’s Markets chain, yesterday reported net income of $6.5 million for the 13-week second quarter that ended June 30, up 39.6% over year-ago results.

LOS ANGELES — Arden Group here, parent of the 18-unit Gelson’s Markets chain, yesterday reported net income of $6.5 million for the 13-week second quarter that ended June 30, up 39.6% over year-ago results. Sales were up 0.6%, to $119.8 million, vs. $119.1 million in the year-ago period. Same-store sales were also up 0.6%. Year-to-date net income rose 31.2%, to $12.97 million, on a sales increase of 1.3%, to $240.3 million; same-store sales also rose 1.3% for the 26-week span. The results included expenses for stock-appreciation rights of $433,000 and $1.25 million in the most recent quarter and half-year, respectively, while the year-ago periods included charges of $1.83 million and $2.42 million, respectively.

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