Village Super Market Q1 sales rise 4.5%, net income drops 6%
Village Super Market's fiscal Q1 sales rose 4.5%, driven by same-store and digital sales growth. Net income decreased 6% year-over-year due to higher cost of sales, with adjusted net income falling 2%. Gross profit margin declined due to lower patronage dividends and increased promotional spending. The company did not provide specific guidance for future quarters.
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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
Metric Beat/Mis Actual Consensu
s s
Estimate
Q1 Sales $582.59
mln
Q1 Net $12.002
Income mln
Q1 $15.10
Operatin mln
g Income
Press Release: For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact . (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.)
