Vons to Report Earnings: Vons Cos. will disclose today how price reductions and job cuts have affected its bottom line when it releases the financial report for its fourth quarter and fiscal year. The Arcadia-based supermarket chain said it reduced prices on 12,000 items during the first half of 1994 in a bid to boost sagging sales. The company has also eliminated 730 administrative and support positions to reduce operating costs. For the nine months ended Oct. 9--the company’s first three quarters--Vons had sales of $3.8 billion, compared to $3.9 billion for the same period in 1993. Earnings rose 38% to $12.7 million. Same-store sales--revenue from stores open at least 12 months--were down 3.2% for the first three quarters.
Times Staff Reports