US food retailer and distributor Nash Finch has reported higher quarterly earnings, driven by gains in food distribution and cost-cutting measures.
Nash Finch posted earnings of US$11.6m, or 95 cents a share, for the third quarter to 4 October, including a tax adjustment of $3m. Excluding this adjustment, earnings were $8.6m, or 70 cents a share. The company earned $6.2m, or 51 cents a share, in the year-ago period, reported Dow Jones News.
Total sales increased to $1.22bn from $1.19bn a year earlier.
Nash Finch said it expects full-year earnings of between $2.43 and $2.47 per share, excluding items, down from the company’s previous forecast of $2.49 to $2.55 per share.