COMMERCE, CA – Smart & Final Stores, Inc. has reported its results for its 16-week third quarter that ended October 5, 2014.  The retailer saw net sales of $1.13 billion, a 10.8% increase over the $1.02 billion in the same period of 2013, according to a press release.

For the quarter, Smart & Final opened six new stores, and in the 52 weeks that ended October 5, 2014, the retailer has opened a total of 13 new stores, all in the Smart & Final Extra! Store format.

"It's an exciting time at Smart & Final Stores," said Dave Hirz, President and Chief Executive Officer. "Our store banners are uniquely positioned at the intersection of value, convenience and quality.  We are leading the way with the growth of our Smart & Final Extra! stores which offer a one-stop shopping experience that resonates with today's household and business customers.  We continue to grow sales in both of our store banners – Smart & Final and Cash & Carry – and this has translated into strong financial results."

Other highlights from the financial report include:

• Comparable store sales growth of 6.6%
• Net income increased 1.9% to $10.2 million
• Adjusted net income increased 24.9% to $14.9 million, or $0.24 per diluted share
• Operated 252 stores at quarter-end, including 90 Smart & Final Extra! Stores
• Adjusted EBITDA increased 4.3% to $57.1 million

Hirz added, “We continue to see growth in customer transactions as our distinct merchandise and strong value pricing remains a compelling proposition for both household and business customers. Our strong financial performance of 10.8% sales growth and 6.6% comparable store sales growth provides a strong foundation for continued growth, and we plan to continue a robust program of new store openings during the balance of this year and during 2015."

Congratulations on the strong Q3, Smart & Final!

Smart & Final