Smart & Final Profit Soars to $6.2 Million
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Commerce-based grocery company Smart & Final Inc. reported fiscal first-quarter net income of $6.2 million, or 20 cents a share, compared with $163,000, or 2 cents, a year earlier. The results included the effects of discontinued operations.
Sales surged 19% to $423.5 million for the period ended March 21. The company credited the increase in part to the strike-lockout at the three major supermarket chains that sent shoppers to other markets, including Smart & Final.
Smart & Final shares rose 7 cents to $11.46 on the NYSE.
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