Profits Dip at ShopRite Operator

First-quarter net income for Village Super Market here fell by 29%, the retailer said last week, citing low same-store sales growth, tightening margins, product price deflation and increased internal expenses. Village, which operates 26 stores under the ShopRite banner in New Jersey and Pennsylvania, said it expected comparable-store sales of between 1% and 2% for the fiscal year.

SPRINGFIELD, N.J. — First-quarter net income for Village Super Market here fell by 29%, the retailer said last week, citing low same-store sales growth, tightening margins, product price deflation and increased internal expenses.

Village, which operates 26 stores under the ShopRite banner in New Jersey and Pennsylvania, said it expected comparable-store sales of between 1% and 2% for the fiscal year. It said it expected to drastically reduce capital spending compared with fisca

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