Village Super Market 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

Press Release: ID:nGNXZL4pZ

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com.