Marsh Profits Cut in Half

Indianapolis, According to Marsh Supermarkets, Inc., 1Q profits were cut in half because of expenses related to opening five stores last year. Increased advertising and stiff competition were also blamed for the profit decline.

Though same-store sales were up by .6% and overall revenues increased 2.5% from the same quarter last year, income dipped 58%.

Chairman and CEO Don Marsh said, “We have identified a number of cost-reduction and other profit-improvement actions, which we expect to implement during the remainder of fiscal 2006.” This month, the company is expanding to new territory by opening a lifestyle grocery in Naperville, Ill.