SEATTLE -- Pacific Gamble Robinson Co., the nation's largest wholesaler and distributor of fresh fruits and vegetables, Monday reported slightly lower 1983 earnings.
The company, which operates 102 retail supermarkets on the West Coast under the Tradewell Stores, Prairie Market and Family Market banners, announced net earnings of $3.1 million or $1.64 per share on sales of $833 million for the year ending Dec. 31.
In 1982, the company posted $3.8 million in earnings, $2.03 per share, on sales of $837 million.
The fourth quarter was particularly weak for the company, said Douglas S. Gamble, company president.
'PGR's profits were especially hard hit in the first and fourth quarters of 1983 when harsh winter weather conditions escalated our operating costs as we provided fresh groceries to our retail and wholesale customers,' Gamble said.
Another reason for company's pro decline, he said, was the closure of several retail food stores the company determined were unprofitable.
'The Prairie Markets we have converted in the past 18 months have significantly increased their monthly sales volumes,' Gamble said. 'To date, we have converted about one-third of our wholesale-type stores to the expanded food and service concept.'
Acquisition of Select Pellet Co. early in 1983 increased the company's revenues for the year, but pellet manufacturing operations in Washington and California reported a decline in net earnings.
Gamble, explaining the company has been through a tough couple of years as inflation cooled, said it would stick to a long-term strategy for upgrading and modernizing facilities and culling out unprofitable operations.
Pacific Gamble Robinson Co. operates 74 wholesale grocery distribution branches and numerous produce buying offices in the United States and Canada, as well as the supermarkets.
