DAYTON, Ohio -- Net sales were up, but earnings were down for Super Food Services here in the third quarter ended May 6.
Quarterly sales increased 2.8% to $260.2 million, while sales gained 0.9% to $789 million for the 36-week period.
Net income for the twelve weeks slipped 5% to $1.7 million. For 36 weeks, income rose 1.6% to $6.2 million.
Super Food attributed the sales boost to increased volume from existing customers. Meanwhile, the company said the decline in net income came as the result of increased interest expenses and new expenses that were incurred to support a new business venture.
Jack Twyman, chairman and chief executive officer of Super Food, declined to elaborate on that venture.
The company said it is seeking to control expenses and maximize productivity. "We are reviewing delivery schedules, stockkeeping units in the warehouse and labor schedules. We are constantly redoing our operation to try and make it more efficient and productive," Twyman told SN.
Super Food is a full-service voluntary wholesaler of food and nonfood, servicing 845 supermarkets in Michigan, Ohio, Indiana, Kentucky, Tennessee and West Virginia.