Food and drug retailer Albertsons Inc. said its net income rose 13.4 percent in its second quarter as the company was able to effectively control expenses.
The company, based in Boise, said its sales at stores open at least a year slipped slightly during the period. The measure, called same-store sales, is a common indicator of retail activity.Earnings were $106.2 million, or 42 cents a share, in the quarter ended Aug. 3, compared with $93.7 million, or 37 cents a share, in the year-ago quarter. Revenues rose 4.4 percent to $3.12 billion compared with $2.99 billion.
For the first half, earnings were $205.5 million, or 81 cents a share, compared with $178.8 million, or 64 cents a share, in the year-ago six months. The year-ago results reflect $17 million in costs related to a an accounting change.