Village Super Market Q1 sales rise 4.5%, net income drops 6%

Reuters12-02
<a href="https://laohu8.com/S/VLGEA">Village Super Market</a> Q1 sales rise 4.5%, net income drops 6%

Overview

  • Village Super Market fiscal Q1 sales rose 4.5%, driven by same-store and digital sales growth

  • Net income for fiscal Q1 decreased 6% yr/yr due to higher cost of sales, adjusted net income fell 2%

  • Gross profit margin declined due to lower patronage dividends and increased promotional spending

Outlook

  • Company did not provide specific guidance for future quarters

Result Drivers

  • SAME STORE SALES - Growth driven by digital sales, remodeled stores, and higher fresh and pharmacy sales

  • GROSS PROFIT DECLINE - Lower patronage dividends and increased promotional spending impacted margins

  • ADJUSTED OPERATING EXPENSES - Decrease as percentage of sales attributed to lower employee costs and short-term rental income

Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Sales

$582.59 mln

Q1 Net Income

$12.002 mln

Q1 Operating Income

$15.10 mln

Press Release: ID:nGNXZL4pZ

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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