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

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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.)