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Arden Group's Q3 net income drops 26%
Los Angeles -- Supermarket retailer Arden Group reported Wednesday that the company earned $3.5 million in the quarter ended Oct. 2, compared with net income of $4.7 million in the year-ago period.
The parent of Southern California supermarket chain Gelson's Markets cited economic conditions and competition for the profit decline.
Revenue decreased 3% to $100.3 million. Same-store sales fell 3.3%.
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ShopperTrak Report: Retail sales up 1.6% in October
Chicago -- A report released Wednesday by ShopperTrak found that total GAFO (general merchandise, apparel, furniture, sporting goods, electronics, hobby, books and other related store sales) retail sales for the month of October increased 1.6% while total U.S. foot traffic rose 1.0% for the same period as compared to last year.
ShopperTrak’s National Retail Sales Estimate reported that both Columbus Day and the Halloween holidays helped push retail levels into the black in October.