Ralphs Whittles 2nd-Quarter Loss to $5.8 Million
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Ralphs Grocery Co. announced Wednesday that its second-quarter loss narrowed to $5.8 million on sales that climbed 8% from a year earlier to $672.6 million.
In its second quarter last year, Ralphs lost $7 million. The Compton-based supermarket chain also said its operating cash flow for the second quarter ended July 21 rose 11% to $50.8 million.
Sheila O’Connell, a junk bond analyst with Duff & Phelps in Chicago, said that Wednesday’s numbers were in line with expectations and that they paint a good financial picture for the supermarket.
Byron Allumbaugh, Ralphs chairman and chief executive, said the results reflect “our strong customer base. We are well-positioned for additional new store openings as well as completion of our perishable distribution complex scheduled to open in mid-1992.”
Ralphs Grocery Co. is the third-largest supermarket chain in Southern California, with 153 supermarkets.
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