** Shares of Village Super Market VLGEA.O down as much as 6% to $33.86, a one-month low

** Supermarket chain posts Q4 adj net income of $15.6 mln, an 8% decrease from $16.9 mln reported a year earlier

** Q4 gross profit as a percentage of sales fell to 28.17% due to decrease to cost inflation, unfavorable change in product mix, and increased promotional spending

** Despite this, Q4 sales were $599.7 mln, up from $578.2 mln reported last year, primarily due to an increase in same- store sales of 1.6%

** YTD, the stock has risen 6.91%, including session move

(Reporting by Krisha Bhatt)

((Krisha.Bhatt@thomsonreuters.com;))