Stater Bros. Sales, Profits Up for 2011
A dedicated focus on value by controlling costs helped boost Stater Bros. sales and profits for its fiscal year.
"The economy in our marketing area remains challenging, and we continue to focus on the value we can pass on to our 'Valued Customers' to assist them and their families during these difficult times, so they can get the most out of their shopping dollars,” said Jack H. Brown, chairman and CEO. “Our customers deserve a friendly and satisfying experience on each and every one of their visits to our supermarkets. It is our mission to control costs where we are able as we weather the effect of these tough economic times."
Sales for the 2011 fiscal year were $3.7 billion, an increase of 2.4 percent over last year’s $3.6 billion. Sales for the fourth quarter of fiscal 2011 were $941.9 million compared to $897.4 million for the fourth quarter of 2010. Sales for the quarter increased $44.5 million or 5 percent. Like store sales for the fiscal year and the fourth quarter of 2011 increased 2.5 percent and 5.0 percent, respectively.
The company reported net income of $26.3 million for the 2011 fiscal year compared to $24.6 million in the 2010 fiscal year. The results for the fourth quarters of fiscal 2011 and fiscal 2010 were net income of $6.5 million and $5.9 million, respectively.
Stater Bros. operates 167 supermarkets in Southern California.