Profit at Crown Books Corp., the Landover-based discount book chain, rose slightly in the quarter ended Oct. 31.
The company's net income in the quarter, the third of its fiscal year, was $1.28 million (25 cents a share), up 1 percent from $1.26 million (24 cents) in the same quarter last year. Revenue rose 11 percent to $48.7 million from $43.5 million a year ago.
For stores open more than a year, an industry measure of a retailer's underlying health, sales increased 7 percent in the quarter.
In the time since the quarter ended and the holiday sales period began, however, sales have flattened, the company said. Overall sales in the five weeks ended Dec. 8 were up 1 percent compared with a year ago, and sales at stores open more than a year were essentially unchanged. Crown's sister company, Trak Auto Corp. of Landover, reported that profit in the quarter ended Oct. 31 rose 35 percent, mostly because of new stores.
The Haft family's Dart Group Corp. owns significant stakes in both Crown and Trak. Herbert Haft is chairman of both Dart and Trak; his son, Robert M. Haft, is president of all three.
At Trak, which runs auto supply stores, net income in the third quarter rose to $665,000 (12 cents a share) from $491,000 (8 cents) in the same quarter a year earlier. Revenue rose to $75.8 million, up 3 percent from $72.9 million a year ago.
At stores open more than a year, sales fell 3.3 percent in the quarter. The company has 331 stores now, compared with 305 a year ago.