Albertson's Inc., the nation's sixth largest food-drug retailer, has reported an increase of more than 15 percent in sales for the latest quarter.
The company said sales for the last 14 weeks were $1.89 billion, an increase of 24.2 percent over last year's 13-week quarter. The Boise-based Albertson's is the nation's 17th largest retailer.Net earnings for the fourth quarter were $51.9 million, 78 cents per share of common stock, compared with $40.3 million, 61 cents per share, last year.
Sales for the 53-week period ended Feb. 2 were $6.77 billion, up 13 percent when compared on a 52-week basis to the 1987 year.
The company's board of directors increased the regular quarterly dividend on common stock from 14 cents per share to 20 cents. Warren E. McCain, chairman and chief executive officer, said the dividend will be payable May 25 to shareholders of record on May 5.
Albertson's opened its 500th store in ceremonies earlier this month.
The company said during the quarter 22 new stores were opened, making the new store total 44 for the year. Another 10 were remodeled.
McCain said during 1989, the company plans to open 37 new stores and complete remodeling on 40.