ShopKo Stores doubles net income in Q3.(News)(Brief Article)
Home Textiles Today, November, 2004 by SanFilippo, Michele
GREEN BAY, WIS. -- ShopKo Stores, Inc. doubled its net income and increased diluted earnings per share 133 percent in the third quarter. Net income was $2 million compared with $1 million last year and diluted earnings per share were 7 cents versus 3 cents. Consolidated sales were $746.4 million compared with $758.5 million last year.
Comp store sales for the third quarter decreased 1.5 percent. During a recent third-quarter conference call, ShopKo Stores President and CEO Sam Duncan commented, "We are pleased with our increase in earnings over last year, which reflects improvements in gross margin rates and tight expense control. In addition, we are well positioned for the fourth quarter, with inventory levels below last year and the recent...
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