Vons Cos. reported a 28% drop in...

Vons Cos. reported a 28% drop in first-quarter net income, despite an 18.9% increase in operating earnings. Vons attributed the increased operating profit to the company’s purchase of 18 Williams Bros. Markets stores in January.

The Arcadia-based supermarket chain reported profit of $14.6 million, down from 1991’s $20.3 million, which included a $7.6-million extraordinary gain. Revenue increased nearly 4% to $1.3 billion.