MILAN, Ill. -- Eagle Food Centers here reported that same-store sales rose 1.9% in the second quarter ended July 29 -- the company's first positive increase since the third quarter of 1990.
raordinary charge of $625,000 related to the refinancing of a revolving credit facility and a one-time charge of $1.2 million related to a lease termination and severance payments.
For 24 weeks, sales decreased 1.5% to $494.6 million. Same-store sales increased 0.6%. Net loss was $9.8 million, compared with a loss of $6.7 million in 1994.
During the quarter, the 94-store chain secured a new $40 million revolving credit facility with Congress Financial Corp., Chicago.
Howard Goldberg, vice president of high-yield research at Smith Barney, New York, attributed Eagle's improved quarterly results to better in-stock positions in health and beauty care and increased use of in-store signs.