AddThis

Arden Group Q1 net income falls on lower revenue

Related Content

No related items were found.

Los Angeles Arden Group, parent company of supermarket operator Gelson's Markets, said Wednesday that its first-quarter net income dropped 12% on lower sales.

Earnings fell to $5.1 million from $5.8 million a year earlier.

Revenue for the period ended April 3 decreased 4% to $104.8 million, from $108.8 million.

Same-store sales fell 3.7% on soft economic conditions and competitive pressures, the company said.

Gelson's runs 18 full-service supermarkets in Southern California.

© 2014