Stater Bros. Q2 Sales, Comps Stay Solid
Stater Bros. Holdings Inc. reported consolidated sales in the 13-week second quarter ended March 27 of $913.4 million, an increase of $27.9 million, or 3.15 percent, from last year’s consolidated sales of $885.5 million.
The San Bernardino, Calif.-based grocer’s sales for the 26 weeks ended March 27 were $1.81 billion, a $6.6 million rise over the same period of fiscal 2010.
Like-store sales grew 3.15 percent, or $27.9 million, for the 13-week period of fiscal 2011 vs. the year-ago period. For the 26-week period of fiscal 2011, like-store sales were up 0.37 percent or $6.6 million from last year.
The company posted net income for the 13-week second quarter ended March 27 of $8.8 million, compared with the year-ago period’s $6.0 million. Net income for the 26-week period of fiscal 2011 was $10.0 million vs. last year’s $12.7 million, however. Stater Bros. explained that fiscal 2010 year-to-date net income included an after-tax gain of $5.6 million from the sale of the its dairy assets, and that excluding that, year-to-date net income for fiscal 2011 had actually increased $2.9 million over net income from the prior year.
“These results are due to the dedication of the Stater Bros. 'Family' and the loyalty of our customers, many of those whom we have served for over three generations,” noted Jack H. Brown, chairman, president and CEO of Stater Bros. Holdings. “I am especially proud of our increases in the second quarter of nearly 1 million customers who appreciate our commitment to help their families during these tough times by keeping our low prices and sharing their pain."
Stater Bros. is the largest privately owned supermarket chain in Southern California, and the largest private employer in both San Bernardino and Riverside counties. The company operates 167 supermarkets and employs more than 18,000 associates.