Ralphs Grocery Co.
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Ralphs Grocery Co. on Tuesday announced net income for the second quarter ended July 19 increased to $1.7 million, contrasted with a $5.8-million loss for the same period last year.
Net income in the second quarter last year included a non-cash charge of $4.2 million for equity appreciation rights.
Sales for the latest second quarter were $660.3 million, a decrease of 1.8% versus the previous year’s quarter.
Sales continue to be affected by the sluggish Southern California economy and deflation in certain food product categories, the Los Angeles-based supermarket chain said.
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