Smart & Final's sales climb in fiscal 3Q
Nov 1, 2006 12:00 PM
Smart & Final Inc reported sales of $672.6 million for its 16-week third quarter ended Oct 8, 2006, an increase of $38.2 million, or 6.0 percent, over third quarter 2005 sales of $634.4 million. Income from continuing operations was $7.5 million for third quarter 2006, compared with $1.0 million for third quarter 2005.
Etienne Snollaerts, president and chief executive officer, said, “In the third quarter, we made great strides in rebuilding our sales momentum and continuing progress in reducing distribution expense.”
The company has engaged Goldman Sachs & Co as financial advisor in studying potential alternatives, in light of an announcement by the company's majority shareholder, Casino Guichard-Perrachon SA, that it is considering the sale of non-core portfolio assets.
Smart & Final operates 251 non-membership warehouse stores for food and foodservice supplies in California, Oregon, Washington, Arizona, Nevada, Idaho, and northern Mexico.
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