Arden Profit Soars on Tepid Sales

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Shares in Arden Group Inc. dipped Tuesday after the supermarket chain reported a boost in profit despite a small increase in revenue.


Arden Group reported first quarter net income of $6.5 million ($2.05 per share), a 24 percent increase from $5.2 million ($1.59) from the same period a year earlier.


Sales for the Compton-based parent of Gelson’s increased 1.7 percent to $120 million, with same-store sales up 2 percent. The company noted that Passover which prompts large family food purchases fell in the quarter.


Shares in Arden Group closed down $1.87, or 1.4 percent, Tuesday to $133.33 in trading on the Nasdaq.

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