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Foodarama's Q3 Comps Dip from Competitive Pressure

FREEHOLD, N.J. -- Foodarama Supermarkets Inc. here reported yesterday that same store sales for the fiscal third quarter fell 1 percent due to the negative effects of competitive store openings.

The 20-unit Shoprite operator said in a press release that for the quarter ended July 30, Foodarama's overrall sales climbed to $304.5 million, from $302.8 million a year earlier helped by the addition of two stores. Third-quarter sales included new operations in Aberdeen, N.J., and Bordentown, N.J. The Aberdeen store replaced an older, smaller store in the same area. According to a report by Dow Jones, the chain also said third-quarter profit rose 11 percent to $553,000, or 54 cents a share, from $496,000, or 48 cents a share, in the year-ago period.
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