Stater Bros. Q3 Profits Double
COLTON, Calif. - Even with the timing of Christmas Day resulting in one less sales day the second quarter, regional independent Stater Bros. still saw a sales increase of 0.27 percent, and a doubling of its profits for the 13-week quarter ended March 25.
The retailer's Q3 sales were $866.1 million compared to $863.8 million last year. Christmas Day, the only day the company's stores are closed, fell in Q2 fiscal 2007 and the Q1 fiscal 2006. After taking into consideration the effect of Christmas Day, same store sales increased 1.5 percent for the quarter.
"While we look forward to the challenges of a changing marketplace, all of our customers will continue to have the Stater Bros. commitment to provide a friendly and satisfying shopping experience on each and every one of their visits to our Supermarkets and our commitment to being the low price leader," said Jack H. Brown, chairman, president, and c.e.o., perhaps in reference to the impending market entry of British mega-retailer Tesco.
Total sales for the 26 weeks ended March 25 increased 2.28 percent to $1.77 billion, compared to $1.73 billion for the same period last year. Year-to-date same store sales increased 1.45 percent over last year.
Net income for the quarter was $13.5 million compared to $6.2 million in 2006. Net income for the fiscal year-to-date was $23.4 million in 2007, up from $9.5 million last year.
Stater Bros. operates 162 supermarkets.
The retailer's Q3 sales were $866.1 million compared to $863.8 million last year. Christmas Day, the only day the company's stores are closed, fell in Q2 fiscal 2007 and the Q1 fiscal 2006. After taking into consideration the effect of Christmas Day, same store sales increased 1.5 percent for the quarter.
"While we look forward to the challenges of a changing marketplace, all of our customers will continue to have the Stater Bros. commitment to provide a friendly and satisfying shopping experience on each and every one of their visits to our Supermarkets and our commitment to being the low price leader," said Jack H. Brown, chairman, president, and c.e.o., perhaps in reference to the impending market entry of British mega-retailer Tesco.
Total sales for the 26 weeks ended March 25 increased 2.28 percent to $1.77 billion, compared to $1.73 billion for the same period last year. Year-to-date same store sales increased 1.45 percent over last year.
Net income for the quarter was $13.5 million compared to $6.2 million in 2006. Net income for the fiscal year-to-date was $23.4 million in 2007, up from $9.5 million last year.
Stater Bros. operates 162 supermarkets.