Nash Finch Hispanic Chain Expands Presence in Chicago

MINNEAPOLIS - Nash Finch on Thursday announced the grand opening of the second Avanza Supermarket in Chicago. Avanza, aimed at serving the rapidly growing Hispanic marketplace, carries an extensive variety of authentic products.

In September, Avanza opened its first store in Chicago, which joined four Avanza Supermarkets already open in Colorado. The new Chicago store is located at 5220 South Pulaski Road.

In other Nash Finch news, the Minneapolis-based company today said gains in food distribution and cost-cutting moves helped drive third-quarter earnings, but the company cut its 2003 outlook.

For the three months ended Oct. 4, the food retailer and distributor earned $11.6 million, or 95 cents a share, including a tax adjustment of $3 million, or 25 cents. Excluding this, the company earned $8.6 million, or 70 cents a share in the latest quarter.

Last year, Nash Finch reported earnings of $6.2 million, or 51 cents, excluding a special charge reversal.

Total sales rose to $1.22 billion in the third quarter from $1.19 billion a year ago.
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