Rykoff-Sexton Inc.: The restaurant and institutional food...
From Times Staff and Wire Reports
Rykoff-Sexton Inc.: The restaurant and institutional food supply company said net income for fiscal 1990 ended April 28 totaled $11.3 million, down 45% from the $20.6 million reported a year earlier. Sales rose 8% to $1.4 billion. The Los Angeles firm had predicted reduced earnings because of lower-than-expected sales increases, delays in cost-reduction efforts and a $2-million pretax charge related to bad debt and employee health-care benefits.
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