Village Super Market, Inc. Reports Results For The Third Quarter Ended April 26, 2025

Core Insights - Village Super Market, Inc. reported a net income of $11.2 million for the third quarter of fiscal 2025, representing a 24% increase compared to $9.0 million in the same quarter of the previous year [9] - Year-to-date net income reached $40.9 million, a 17% increase from $35.0 million in the prior year-to-date period [9] - The company experienced a sales increase of 3.2% in the third quarter and 3.8% year-to-date, driven by same store sales growth and new store openings [9][11] Third Quarter Highlights - Sales for the third quarter were $563.7 million, up from $546.4 million in the same period last year, with same store sales increasing by 1.9% [4] - Digital sales contributed significantly to same store sales growth, with a 10% increase noted [9] - Gross profit as a percentage of sales improved to 28.77% from 28.54% year-over-year, attributed to higher patronage dividends and rebates [5] Year-To-Date Fiscal 2025 Highlights - Year-to-date sales totaled $1.721 billion, compared to $1.658 billion in the previous year, with same store sales increasing by 2.2% [11] - Gross profit as a percentage of sales for the year-to-date period was 28.71%, up from 28.48% in the prior year [12] - Operating and administrative expenses as a percentage of sales decreased to 24.20% from 24.39% year-over-year, reflecting improved cost management [13] Financial Performance - Operating income for the third quarter was $13.7 million, compared to $10.2 million in the same quarter last year [20] - Interest expense decreased due to lower average outstanding debt balances, while interest income fell due to lower interest rates on variable rate notes [7][8] - The effective income tax rate for the third quarter was 30.6%, slightly up from 30.1% in the previous year [10] Store Operations - The company opened a new 72,000 sq. ft. ShopRite replacement store in Watchung, NJ on April 9, 2025, contributing to sales growth [9] - The same store sales growth was supported by digital sales, remodeled stores, and higher pharmacy sales, alongside inflation in the meat and dairy departments [4][11]