Profits at Crown Books Corp. rose for the nine-month period ended Oct. 31, while income reported from another Dart Drug spinoff, Trak Auto Corp., fell during that period as a result of costs associated with its entry into new markets. Sales were up sharply for both discount firms, which have stores nationwide.
Crown Books President Robert M. Haft reported that net income jumped 28 percent to $3.12 million (39 cents a share), compared with $2.44 million (30 cents) in the nine-month period last year.
Profits for the quarter were up 11 percent to $896,000 (11 cents) from $810,000 (10 cents) during the same quarter in 1984.
Crown, which operates 187 book stores in the Washington metropolitan area, California, Houston, Chicago and Seattle, reported that sales for the nine-month period rose 18 percent to $85.72 million from $72.83 million last year. Sales for the quarter were up 24 percent to $30.69 million.
Trak Auto reported that profits dropped for the nine-month period to $1.32 million (22 cents) compared with $2.97 million (49 cents) for the same period last year, while sales climbed 34 percent to $71.45 million from $53.14 million one year ago.
For the quarter, Trak reported that income was down to $419,000 (7 cents) compared with $902,000 (15 cents) for the same period last year.
Trak Auto Corp. operates 179 discount auto-parts stores in the Washington area, Richmond, Chicago and Los Angeles.
Earnings for the auto discount stores' principal subsidiary, Trak East, for the nine-month period were $4.18 million (70 cents) compared with $6.15 million ($1.02) in 1984.