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Unified Grocers, Inc. saw continued sales gains for the first half of 2014, but posted a loss for the second quarter ended March 29, 2014.
The Los Angeles-based distributor reported net sales of $893.6 million in Q2 2014, an increase over the $877 million for the same period last year, despite this year's Easter/Passover holiday falling within Unified's third fiscal quarter, the company said.
“We are extremely pleased with our second quarter results, especially the growth in sales,” said Bob Ling, Unified's president and CEO, pointing to "continued improvement across all of our business units. The growth in our sales activity began in the second half of fiscal 2013 and the momentum we have established is a validation of our long-term strategy to turn around the business.”
The company's overall Q2 net loss of $1.7 million was an improvement over the $4.6 million loss during the same period in 2013.The company reported gross billings of $919.3 million for Q2 2014 compared to $885.1 million for Q2 2013, a 3.9 percent increase.
First Half of 2014
The company posted net sales of $1.848 billion for the first half of 2014, compared to $1.823 billion for the first half of 2013.
Unified brought in earnings of $6.3 million during this time, compared to a loss of $2.4 million in the 2013 period. In terms of net earnings, the company improved $5.7 million to $1.1 million for the first half of 2014, compared to a net loss of $4.6 million for the same time in 2013.
Unified Grocers is a retailer-owned wholesale grocery distributor that supplies independent retailers throughout the western United States.