Stater Bros. Sees Higher Sales, More Customers in FY 2012
Stater Bros. Holdings Inc. has reported sales of $3.9 billion for the 53-week fiscal year ended Sept. 30, noting that the extra week in fiscal 2012 added $67.8 million, or 1.83 percent, to sales.
Normalized 13-week 2012 fourth-quarter sales were $957.2 million, versus fourth-quarter fiscal 2011 sales of $941.8 million, an increase of $15.4 million. Normalized 52-week fiscal 2012 sales were $3.8 billion versus fiscal 2011 sales of $3.7 billion, an increase of $112.1 million. Like-store sales grew 1.64 percent in the fourth quarter and 3.04 percent in fiscal 2012 over the same periods last year.
The San Bernardino, Calif.-based company posted net income of $5 million the fourth quarter of fiscal 2012 and $5.6 million in the fourth quarter of fiscal 2011. Net income came to $37.7 million and $26.3 million for fiscal 2012 and fiscal 2011, respectively. Stater Bros.’ fiscal 2012 net income was positively affected by a reduction in pre-tax interest expense of $9.4 million compared with fiscal 2011.
“We increased sales, increased customers and reduced our interest expense by $9.4 million,” noted Stater Bros. chairman, president and CEO Jack H. Brown. “Our success in the current year is due to our valued customers responding favorably to our marketing efforts, which have emphasized quality and value and have attracted new customers in fiscal 2012. Our results reflect the benefit of our debt refinancing last year, which has significantly reduced our interest expense. The reduction in interest expense is just one measure that we’ve taken to reduce cost which has allowed us to keep prices low to our customers. During these tough economic times, low prices and value are even more important as our customers continue to face challenges to their home budgets.”
The largest privately owned supermarket chain in Southern California, Stater Bros. operates 167 supermarkets and employs more than 18,000 associates.