Village Super Market: Falls as profit more than halves

Village Super Market

03/12/2019 19:21

** Food retailer's shares  VLGEA.O  down 6.56% at $26.06
after quarterly profit more than halves - set for worst day in
more than a year
    ** Village Super Market hurt by decline in profit margin
from its pharmacy business and costs related to replacement
store opening in Stroudsburg, Pennsylvania
    ** VLGEA expects same-store sales in FY 2020 to range from a
2% decline to flat
    ** Sales, however, rises marginally, helped by acquisition
of food grocer Gourmet Garage in June
    ** Including session's decline, stock down 2.54% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@ThomsonReuters.com))