American Stores Co.’s earnings were up 7%...

American Stores Co.’s earnings were up 7% to $154.3 million for 1987. Sales totaled $14.273 billion for the year, an increase of 1.8%. Net for the fourth quarter decreased 17.4% to $46.1 million. The Salt Lake City company, which operates food and drug stores, including Alpha Beta Co. and Osco Drug Inc., said the full-year results reflect the lower tax rate for 1987 as well as a gain on the sale of stores by Osco Drug in the Pacific Northwest.