Retail Industry
Industry: Email Alert RSS FeedShopKo profit rises 5 percent in period. (Shopko Stores Inc.; first quarter 1992 profits) (Brief Article)
Daily News Record, June, 1992
GREEN BAY, Wis. (FNS) -- ShopKo Stores, Inc., a discount chain, reported first-quarter profits edged up 5.1 percent as sales gained 2.8 percent.
The discounter earned $10.9 million, or 34 cents a share, in the quarter ended June 20, versus $10.4 million a year earlier. ShopKo completed its initial public offering in October 1991.
Sales rose to $468.4 million from $455.8 million. Same-store sales were up 1.4 percent, despite colder-than-normal weather which slowed sales of seasonal apparel.
ShopKo said the sales gain, coupled with reduced selling, general, administrative, and interest costs, offset lower margins to produce increased profits. ShopKo operates 110 stores in 13 states in the Upper Midwest, Mountain, and Pacific Northwest regions.
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