Regional grocery chain Marsh Supermarkets has announced an increased loss for the fourth quarter ended 2 April 2005.
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For the 13 week fourth quarter total revenues were $419m compared to $376m for the 12 week quarter last year. Net loss for the quarter was $1.433m, compared to a net loss of $1.228m the year before.
Pre-tax operating results for the quarter included the receipt of $2.4m in settlement of litigation against two of the company’s general liability insurance carriers for costs related to the remediation of petroleum contamination, $0.9 million in expense to settle a claim brought by a former officer of the company, and an $0.8m charge to depreciation to correct the Company’s accounting for leases.
Net income for the year was $4.162m compared to $3.037m last year. Total revenues were $1.747bn for the 53 week 2005 fiscal year compared to $1.653bn for the 52 week 2004 fiscal year.
“We are pleased that, while 20 competitors’ supermarkets have been built or remodelled during the past two years, fourth quarter comparable store customer count was equal to the year earlier quarter, “said Don E Marsh, chairman and CEO. “We will continue to distinguish ourselves from our competitors by delivering superior products and service, and by guaranteeing customer satisfaction.”

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By GlobalData