Gelson's Store Closing Leads to Q1 Earnings Drop

LOS ANGELES — Arden Group, parent company of Gelson's Markets, said the shutdown of one of its 18 supermarkets contributed to a drop in earnings during the first quarter ended March 31.

The company said net income for the 13-week period fell 48.6% to $2.9 million, while sales increased 2.9% to $107.2 million and same-store sales, excluding the closed store, rose 3.7%, which the company attri

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