Shares in Arden Group Inc. slipped nearly 2 percent Friday after the grocery chain owner reported a dip in profit due to lower sales and higher expenses.

Arden reported net income of $7.4 million ($2.33 per share), down slightly from $7.6 million ($2.34) from the same period a year earlier.

Fourth quarter sales for the Compton-based supermarket company, which operates 18 Gelson’s markets in Southern Californiarea, also slipped to $126 million from $127 million.

The company said that expenses rose to slightly more than $1 million from $839,000 in the final quarter of 2006.

For the full year, profit rose 26 percent to $29.2 million ($9.24 per share) while sales climbed 25 percent to $45.2 million.

Shares in Arden Group closed down $2.38 to $129.12 in trading Friday on the Nasdaq.