LOS ANGELES — Arden Group, parent company of Gelson's Markets, Encino, Calif., said net income rose 49.3% to $4.4 million for the 13-week first quarter that ended March 30.
Sales for the quarter increased 6% to $113.7 million, and same-store sales grew by 7.7%. The company said the increase in comps reflects a shift in Easter and Passover, which were part of last year's second quarter, as well as inflation and an increase in the number of transactions during the quarter.
Gelson's operates 17 high-end stores, after closing one location in February 2012.
In September the company entered a lease for a supermarket in Long Beach, Calif., which it said is scheduled for a remodel and an opening in late 2013. Gelson's also said it will close a store in Pasadena in mid-July, some of whose equipment will be transferred to the new Long Beach location.
|Suggested Categories||More from Supermarketnews|