Smart & Final Final Profit Off 29% Amid Higher Costs

Smart & Final Inc., which operates 250 food warehouses in California, other Western states and Mexico, said second-quarter profit sank 29% as higher operating costs outweighed modest sales growth.

Net income declined to $5.8 million, or 18 cents a share, from $8.1 million, or 25 cents, a year earlier. The City of Commerce-based company said a strategic review resulted in a charge of 2 cents a share.

Sales rose 2% to $493.7 million. Same-store sales, or sales at stores open at least one year, fell 0.3% in the quarter.