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Store costs, taxes hit Village Super Market Q4 net income
Springfield, N.J. – Store closing and pre-opening costs, as well as an unfavorable state tax ruling, reduced net income at Village Super Market Inc. 5% to $5.87 million in the fourth quarter of fiscal 2014, from $6.2 million in the same quarter the prior year. Two new store openings helped boost net sales 5.5% to $383.8 million, from $376.3 million.
Same-store sales rose 9%. For fiscal 2015, Village Super Market expects same-store sales to range from flat to slightly positive.
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Bon-Ton Stores to close two locations
York, Pa. -- The Bon-Ton Stores announced it will close its Bon-Ton store in the Clearview Mall in Butler, Pennsylvania, and its Elder-Beerman store in the Raleigh Mall in Beckley, West Virginia.
The company will not renew these leases, which terminate January 31, 2015. The stores will close at the end of the leases.