OCR Text |
Show the Utah .ENTERPRISE 7f GC headed towards Dixie Its sights already set to the south. Grand Central Inc. announced plans last week to further penetrate the Sun Belt with four new stores in Texas. One store in Albuquerque, N.M. is already open and another under construction. Stores in Santa Fe and Farmington are also being built. Grand Central president Donald A. Mackey told shareholders at the firms annual meeting Tuesday plans include a third store in Albuquerque and four in Texas. Ground for the first has already been purchased, Mac-ke- y said, but Grand Central executives have decided not to reveal the Texas locations until all four parcels are secured. The Texas market area is beautiful," Mackey said. The four planned locations are just the first step in expanding in the southwest." Grand Central sales during 1977 increased 13 percent over 1976, from $141,027,347 to $158,900,296. Fifty two percent of that, Mackey said, resulted from new store Presenting six of the worlds most elegant cuisines: French, Italian, Greek, Spanish, American and Persian. 249 South 4th East Reservations: 359-500- 0 Your Host: Ali A. Manteghi Net income for the year, however, rose 26 percent to $3,178,919, compared with $2,733,000 in 1976. Per share, amounted to $1.61 in 1977 and $1.28 in 1976; cash dividends increased from 18.3 cents to 30 cents. During the first quarter of the company's fiscal year, sales arc up $26,000 over last of revenues years howNet income $36,202,637. ever, has increased $109,185 the earnings to $712,146. Grand Central now has 24 stores open in Utah, Idaho, Nevada, New Mexico and Wyoming. It plans to open stores in Brigham City and American Fork next fall. Reelected to the company board of directors are Maurice Warshaw, owning 21.69 percent of Grand Central stock, Donald A. Mackey, 16.31 percent of the stock, M. Keith Warshaw, 13.43 percent, Thomas G. Panos, 12.99 percent, Robert M. Yeates, .05 percent, Lloyd H. Hayward, .21 percent and Wendall M. Smoot, Jr., .07 percent of Grand Central Stock. ms mourn rao DIRECT IMPORTERS OF QUALITY CARPETS M Welcomes you to browse through our extensive selection of Oriental rugs. 15 discount on all Persian rugs through December. Also we will buy or exchange your old Oriental Rugs. Credit terms available. , .. tv -- ei . m is! m y--3 .r 1 u . . if ,x I ' r iS - s ssssEasww & 155 SOUTH MAIN STREET l! SALT LAKE CITY, UTAH 84111 PHONE (8011 533-021- 2 Safes mi r; |