Wednesday, Village Super Market Inc. (VLGEA) said its first-quarter net income declined 29% to $4.54 million from $6.36 million in the prior year period, primarily due to low same store sales growth, decreased gross profit as a percentage of sales, and increased operating expense as a percentage of sales. Class A earnings per share for the quarter dropped to $0.34 from $0.47 in the year-ago period. Class B earnings per share for the quarter was $0.26, lower than $0.37 in the previous year.
Sales for the quarter rose to $302.78 million from $290.98 million in the comparable period.
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