Overview

• U.S. supermarket chain's fiscal Q3 sales rose 1.6% as same store sales slipped 0.2%

• Net income and diluted EPS declined yr/yr, with Q3 net income at $9.0 mln

• Q3 results impacted by Winter Storm Fern and deflation in egg pricing

Outlook

• Company did not provide specific guidance for future quarters or the full year

Result Drivers

• WINTER STORM IMPACT - Store closures and demand shift due to Winter Storm Fern negatively affected same store sales and operating leverage

• EGG PRICE DEFLATION - Lower egg prices reduced same store sales growth

• GROSS MARGIN PRESSURE - Gross profit margin declined due to lower patronage dividends and rebates from Wakefern, higher warehouse charges, unfavorable product mix, and increased promotional spending

Company press release: ID:nGNXbdqvlZ

Key Details

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