date:Jul 13, 2012
For the quarter ended June 16, the company had income of $41 million, equal to 19c per share on the common stock, which compared with $74 million, or 35c per share, in the same period a year ago. Sales for the quarter were $10,590 million, up 5% from $11,113 million.
While our shift to a fair price plus promotion strategy is right for our business, it is essential we move even more aggressively to lower prices and anticipate and respond to competitor actions, said Craig Herkert, chief executive