The Harrisburg, Pa.-based parent of the Basics grocery store chain, reported a turnaround for the fourth quarter and the full year of fiscal 1992 on the strength of gains in its wholesale food business.
The company reported yesterday that it earned $2.75 million, or 20 cents a share, during the quarter that ended Feb. 29 on sales of $305 million. During 1991's fourth quarter, the company lost $2.45 million, or 52 cents a share, on sales of $248 million. The figures have been adjusted to reflect the company's initial public offering in September 1991 and a related three-for-one stock split.
Super Rite attributed its gains largely to a new supply agreement with Shoppers Food Warehouse Corp., a Washington-based grocery chain. The company said its retail sales declined last year because of the closing of some Basics stores in the Washington area and the sale of two stores to Shoppers Food Warehouse.