USA: Foodarama post same store sales increase for Q4
Freehold, New Jersey-based Foodarama Supermarkets revealed a 22% increase in fourth quarter profits yesterday [Wednesday]. Foodarama explained that the rise was due to increased same-store sales, up 5.6%, taking into account that there was an extra week in the company's fiscal 2001. Net income for the 14-week fourth quarter rose to US$763,000 from US$627,000, or 66 cents from 56 cents per diluted share, for the 13-week Q4 of 2000.
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