Tops reports Q3 results

WILLIAMSVILLE, N.Y. — Regional supermarket chain Tops Markets reported a 3.6% increase in net sales for the period ended Oct. 8.

Third-quarter net sales rose $18.7 million to $538.6 million, the retailer said. Supermarket sales (excluding gasoline sales) totaled $491 million, up $7.5 million, or 1.5%, compared with the year-ago period.

“Our strategy to provide our customers with a wide variety of choices and great savings opportunities combined with the successful integration of our Penn traffic acquisition and our focus on operating efficiencies drove our solid sales growth and dramatic increase in operating income in the quarter,” Tops president and CEO Frank Curci said. “Our business continues to improve and customers are responding to our various merchandising initiatives, as well as our store remodel program. Gasoline sales also remain strong with our gas rewards program contributing to brand loyalty and customer retention.”

Tops operates 125 corporate and five franchise locations in the Upstate New York and Northern Pennsylvania regions.