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Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the first quarter of fiscal 2012 ended December 25, 2011.
Stater Bros.’ debt refinancing during its first fiscal quarter of 2012 helped drive its sales and traffic counts by enabling the grocer to deliver more value to customers at the time they need it.
"During these continuing tough economic times that has had such a negative effect on our customers' family budgets, we remain committed to providing value so our customers get the most out of their shopping dollars as we help share their financial burden,” he said. "Due to the refinancing of a significant portion of our debt in the first quarter of fiscal 2011, we have reduced interest expense. We have been able to use these savings to provide our customers with the low prices, value and quality they have come to expect from their 'Neighborhood Hometown' Stater Bros. Market."
The company's sales increased 6.86 percent in the first quarter of fiscal 2012 -- the thirteen weeks ended December 25, 2011-- compared to the same period of the prior year. Like store sales also increased 6.86 percent or $61.7 million for the period. Consolidated sales for Stater Bros. fiscal first quarter were $960.7 million, up from $899 million last year. Customer counts increased by over one million for the quarter.
Net income for the 13-week fiscal first quarter ended December 25, 2011 of was $9 million , up from the thirteen week first quarter ended December 26, which saw $2.8 million.
San Bernardino, Calif.-based Stater Bros. operates 167 Supermarkets in Southern Calif.