Stater Bros. Announces Record Sales, Decrease in Profit in 3Q
COLTON, Calif. -- Southern California grocer Stater Bros. Holdings, Inc. on Tuesday announced record-setting sales for the 13-week third quarter ended June 29. Sales in the current year increased 2.3 percent to $688.1 million, compared with $672.8 million for the 13 weeks ended June 30.
Total sales for the 39 weeks ended June 29 increased 2.9 percent to $2.047 billion, compared with $1.990 billion for the same period in the prior year. Like-store sales increased 1.8 percent and 2.4 percent for the 13-week and 39-week periods ended June 29, respectively.
However, operating profit for the third quarter of 2003 was down to $14.2 million, compared with $17.7 million for the third quarter of 2002. Stater Bros. officials cited rising utility, workers' compensation and health care costs as challenges in the California retailing environment.
Stater Bros. Markets operates 157 locations, with 47 in San Bernardino County, 41 in Riverside County, 30 in Orange County, 27 in Los Angeles County, 10 in Northern San Diego County, and two in Kern County.
Total sales for the 39 weeks ended June 29 increased 2.9 percent to $2.047 billion, compared with $1.990 billion for the same period in the prior year. Like-store sales increased 1.8 percent and 2.4 percent for the 13-week and 39-week periods ended June 29, respectively.
However, operating profit for the third quarter of 2003 was down to $14.2 million, compared with $17.7 million for the third quarter of 2002. Stater Bros. officials cited rising utility, workers' compensation and health care costs as challenges in the California retailing environment.
Stater Bros. Markets operates 157 locations, with 47 in San Bernardino County, 41 in Riverside County, 30 in Orange County, 27 in Los Angeles County, 10 in Northern San Diego County, and two in Kern County.