- 7-Eleven Inc. reported first-quarter operating profit of $4.6 million, compared with a profit of $2.4 million in the same period a year ago. Quarterly revenue rose 17 percent to $2.56 billion.
U.S. merchandise same-store sales rose 4.5 percent, while gasoline sales, aided by a big price increase, jumped 47 percent to $824.6 million for the quarter.
- Weis Markets reported an increase of 6.8 percent in first quarter net earnings to $15.8 million, on sales 0.9 percent higher at $509.1 million, and same-stores sales that were up 1.4 percent.
- Gristedes Foods announced first quarter sales of $74.6 million, up from $59.8 million during the same period a year ago. Net income, however, was a negative $1.4 million, compared to a $761,000 profit a year ago. Gristedes blamed the reversal on higher labor costs, lower gross margins and higher advertising, depreciation, interest, and deferred rent expenses.
- Smart & Final Inc. posted 2003 first quarter sales of $462.4 million, up from $444.8 million during the same period a year ago. Net income, however, was $163,000, down from $587,000 during the year-ago period.
