Stater Bros. Holdings Inc. Sales Increases in the Second Quarter of 2012

SAN BERNARDINO, Calif., May 8, 2012 /PRNewswire/ -- Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the thirteen week and twenty-six week periods ended March 25, 2012.

The Company's consolidated sales in the thirteen weeks ended March 25, 2012 were $937.7 million up $24.3 million or 2.66% from the thirteen weeks ended March 27, 2011 consolidated sales of $913.4 million. 

The Company's twenty-six weeks ended March 25, 2012 sales were $1.9 billion up $86.0 million or 4.74% from the twenty-six week prior year sales of $1.8 billion.

Like store sales increased 2.66% for the thirteen weeks ended March 25, 2012 and 4.74% for the twenty-six weeks of fiscal 2012 compared to the same periods of the prior year. 

The Company reported net income for the second quarter ended March 25, 2012 of $16.4 million compared to net income of $9.3 million for second quarter of the prior year.   Net income for the twenty-six week period of fiscal 2012 was $25.4 million compared to $12.2 million for the twenty-six week period of fiscal 2011.

For the twenty-six week period of fiscal 2012, the Company incurred $9.9 million less in interest expense compared to the same period of the prior year.  The Company's reduction in interest expense is due primarily to the pay down of approximately $125.0 million of debt and to the refinancing of much of the remaining outstanding debt to a lower interest rate in the first quarter of fiscal 2011.

Brown said, "During these tough economic times, we made a conscious marketing decision to help our 'Valued Customers' by continuing to provide them with low prices, quality and value on each of their visits to their Stater Bros. Market.  By keeping our prices low, our quality high and providing our customers great customer service, we have retained our valued customers and have grown customer counts even though the economy in our marketing area continues to be challenged.  We continue our company wide expense reduction programs.

"Our refinancing of a significant portion of our debt in the first quarter of fiscal 2011, which allowed us to reduce interest expense, has made it possible for us to use these savings to help ease our customers' financial burden by keeping our prices low even as inflation has increased the cost of many of the items we sell.  Our customers have responded by continuing to shop at their local Stater Bros. Market."

Stater Bros. is the largest privately owned Supermarket Chain in Southern California and the largest private employer in both San Bernardino County and Riverside County, with annual sales in 2011 of $3.7 billion.  The Company currently operates 167 Supermarkets, and there are over 18,000 members of the Stater Bros. Supermarket Family. 

STATER BROS ... PROUDLY SERVING SOUTHERN CALIFORNIA FAMILIES FOR 76 YEARS

Contact: Dave Harris
Senior Vice President Finance
P.O. Box 150 - San Bernardino, CA 92402
Phone: (909) 733-5080

 

SOURCE Stater Bros. Holdings Inc.