SPRINGFIELD, N.J. — Village Super Market here yesterday said profits rose 48% in the first quarter, to $6.4 million, driven by sales from two new stores and comparable-store sales increases of 4.2%. Sales for the 13-week period, which ended Oct. 25, were up 10.4% to $291 million.
The company, which operates 25 ShopRites in New Jersey and Pennsylvania, said it had increases in both customer traffic and transaction size. Inflation also helped drive comps in the quarter. Gross profit increased to 27.3% of sales, vs. 26.6% of sales in the year-ago first quarter, which the company attributed in part to the timing of promotional spending for the Thanksgiving holiday. More promotional spending has been allocated to the second quarter.
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