Nash Finch profits from fruitful first quarter
Apr 25, 2005 9:29 AM, from staff and wire reports
Nash Finch Co announced that earnings for the first quarter of 2005 were $7.0 million, compared with $4.7 million for the first quarter of 2004, a 49% increase. Total sales for the quarter rose to $882.2 million versus $879.5 million in the prior-year quarter. Sales growth in the food distribution and military segments more than offset the revenue impact of closing the food distributor's underperforming retail stores at the end of the second quarter 2004.
“We are pleased with the results of our quarter, which are in line with our expectations and represent increases in profitability across all segments of our business,” said Ron Marshall, chief executive officer. “Moreover, we completed the acquisition of the distribution centers in Lima (OH) and Westville (IN) shortly after the close of the first quarter, and integration efforts are proceeding according to plan.”
© 2013 Penton Media Inc.