Village Super Market Q3 same store sales slip, hurt by winter storm
Village Super Market Q3 same store sales slip, hurt by winter storm
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
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Sales |
| $572.59 mln |
|
Q3 Net Income |
| $8.96 mln |
|
Q3 Operating Income |
| $8.41 mln |
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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.)
Recent news on Village Super Market
See all newsVillage Super Market Q3 same store sales slip, hurt by winter storm
Brief: Village Super Market Q3 Sales USD 572.587 Million
Village Super Market Q2 sales rise, helped by Winter Storm Fern
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