Giant Food Inc.

This Landover-based supermarket giant posted a nearly 3 percent increase in net income for the first quarter, which ended May 18, compared with the same period a year ago.

Giant said that its improved performance was due to three factors: expenses as a percent of sales dropped during the quarter as the supermarket implemented cost-saving measures; improved buying and merchandising of grocery items; and growth in sales volume.

Giant operates 154 supermarkets and is the largest food chain in Maryland.

Three months ended 5/18/91

Revenue ... Net ... Share

'91 ... 783,876,000 ... 29,250,000 ... 0.50

'90 ... 769,264,000 ... 28,467,000 ... 0.48

% change ... +1.9 ... +2.8 ... +4.2