LOS ANGELES — Arden Group, parent company of 18 Gelson's Markets, said earnings declined and sales increased for the second quarter and first half, which ended July 2.
Net income for the 13-week quarter fell 9% to $3.6 million, while sales climbed 4% to $106 million and same-store sales rose 4%.
For the half, net income was down 2.6% to $9.3 million, while sales increased 1.7% to $210.3 million and same-store sales increased 1.7%.
The company said second-quarter sales benefitted from the shift of Easter and Passover from last year's first quarter. Arden said it has signed an extension agrement with the United Food and Commercial Workers Union that obligates Gelson's to accept the same contract terms ultimately approved by Albertsons, Ralphs and Vons, subject to ratification by its employees.
