USA: Fleming sees quarterly profit up 60%
Dallas-based grocery distribution giant Fleming Co. posted Q1 earnings up nearly 60% earlier today [Tuesday]. Sales in the quarter rose more than 13% to US$4.69bn. Net income rose to US$24.6m, or 52 cents a share, from US$15.5m, or 37 cents a share, in the previous year. Flemming said that excluding the costs linked to the bankruptcy filing of discount giant Kmart, a large Flemming customer, the company earned 57 cents per share.
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