Village Super Markets posts full year sales growth despite lower net profits

Village Super Markets reported that net income fell in both its fourth quarter and full fiscal year because of higher operating and administrative expenses, Supermarket News reported. The operator of ShopRite and Fairway recorded fourth quarter sales of $609.6 million, an increase of 1.6 percent compared with the previous year. [1]

For the full fiscal year, sales reached $2.41 billion, which represents a 3.7 percent increase over year-ago results, according to Supermarket News. Same-store sales grew by 1.6 percent in the fourth quarter and rose by 2.2 percent across the entire fiscal year. [1]

Supermarket News reported that sales growth was driven by gains in recently remodeled and replacement stores. These increases were partially offset by egg price deflation and cannibalization from replacement stores. [1]

E-commerce activities involve the electronic buying or selling of products and services over online platforms or the internet. The sector relies on digital technologies including mobile commerce, supply chain management, and automated inventory management systems. [2]