Ralphs’ Finances Improve: Ralphs Grocery Co. reported...
From Times Staff and Wire Reports
Ralphs’ Finances Improve: Ralphs Grocery Co. reported that its net loss for the fiscal year ending on Feb 3 will be “substantially less” than the $69.7-million deficit posted the year before. The Compton-based supermarket chain, a unit of Campeau Corp., also said preliminary estimates show that its operating cash flow rose 10% to $207 million and its sales climbed 9% to $2.8 billion during the latest fiscal year. Ralphs’ 14% junk bonds, which mature in the year 2000, rose several points on the news, closing at a bid price of 84 cents on the dollar. The Southern California chain has 149 stores.
