Acquired Stores Lead to AFS Loss

SALT LAKE CITY — Associated Food Stores here said it had a net loss of $6.5 million for the fiscal year that ended March 26, though sales were up approximately 10% to an estimated $2.15 billion and patronage dividends for the member-owned cooperative rose 4%. Rich Parkinson, president and chief executive officer, said the loss was due primarily to the acquisition in late 2009 of 34 stores from Albertsons,

SALT LAKE CITY — Associated Food Stores here said it had a net loss of $6.5 million for the fiscal year that ended March 26, though sales were up approximately 10% to an estimated $2.15 billion and patronage dividends for the member-owned cooperative rose 4%.

Rich Parkinson, president and chief executive officer, said the loss was due primarily to the acquisition in late 2009 of 34 stores from Albertsons, with $2.2 million of the loss coming from the closure of five of those st

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