Stater Bros. Net Income Almost Doubles
COLTON, Calif. -- Regional independent Stater Bros. saw its net income for Q2 almost double over last year's figures, hitting $6.2 million for the 13-week quarter ended March 26, compared to $3.6 million last year. Net income for the fiscal year-to-date was $9.5 million, versus $6.9 million in 2005.
Although Stater Bros. president, c.e.o., and chairman Jack Brown said he was pleased with the results, he did not cite what drove the surge in net income.
Sales for the quarter increased 2.46 percent to $863.5 million compared to last year's $842.9 million. Total sales for the 26 weeks ended March 26 increased 2.89 percent to $1.73 billion compared to $1.68 billion last year.
Like store sales were impacted by the timing of the Easter holiday, which fell in the third quarter of the current year compared to the second quarter of the company's fiscal 2005. Easter added approximately $7.8 million to fiscal 2005 second quarter sales. Not counting the Easter holiday, same store sales increased 0.36 percent for the quarter and 0.32 percent for the year-to-date periods of fiscal 2006 over last year.
Stater Bros. Holdings Inc. operates 162 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.
Although Stater Bros. president, c.e.o., and chairman Jack Brown said he was pleased with the results, he did not cite what drove the surge in net income.
Sales for the quarter increased 2.46 percent to $863.5 million compared to last year's $842.9 million. Total sales for the 26 weeks ended March 26 increased 2.89 percent to $1.73 billion compared to $1.68 billion last year.
Like store sales were impacted by the timing of the Easter holiday, which fell in the third quarter of the current year compared to the second quarter of the company's fiscal 2005. Easter added approximately $7.8 million to fiscal 2005 second quarter sales. Not counting the Easter holiday, same store sales increased 0.36 percent for the quarter and 0.32 percent for the year-to-date periods of fiscal 2006 over last year.
Stater Bros. Holdings Inc. operates 162 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.