VERNON, Calif. -- Smart & Final Inc. here reached the billion-dollar mark in the year ended Dec. 31 when sales jumped 22.8% to $1.17 billion.
Earnings rose 27% for the quarter and 4.6% for the year. The company took a $2.6 million charge for fiscal 1995 related to startup costs of its new distribution center in northern California.
Last week the company opened in Florida the first of six stores planned for the first quarter in Dade and Broward counties. According to one securities analyst, Smart & Final plans to build 19 units in the next several years. Smart & Final executives could not be reached for comment.
Roger M. Laverty 3rd, president and chief executive officer, has said Smart & Final has aggressive expansion plans for the state. Laverty has told SN that the company plans to build as many as 40 units in Florida but he did not cite a time-frame.
Smart & Final opened 15 new stores during the year, including four replacements, bringing the company's total number of stores to 158.
In addition to California and Florida, the company operates cash-and-carry warehouse stores in Nevada, Arizona and Mexico and two food-service distribution companies in California and Florida.
Qtr Ended 12/31/95 1/1/95
Sales $282.5 million $247.5 million
Change + 14.1%
Same-store + 6.1%
Net Income $5.08 million $4.00 million
Change + 27%
*Inc/Share 24 cents 19 cents
52 Weeks 1995 1994
Sales $1.17 billion $952.48 million
Change + 22.8%
Same-store + 5%
Net Income $18.3 million $17.5 million
Change + 4.6%
*Inc/Share 88 cents 85 cents
*Note: Earnings per fully diluted share are the same as earnings per primary share for both the quarter and year.