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COLTON, Calif. -- Regional independent Stater Bros. continues to grow its sales in the face of increasing competition, though its net income took a hit for the quarter ended June 25.
Third quarter sales increased 5.4 percent, or $45.5 million to $885.9 million compared to $840.4 million for the same period last year, said the grocer. Total sales for the 39 weeks ended June 25 were $2.62 billion, a 3.7 percent or $94.2 million over last year's $2.52 billion.
"The third quarter results reflected positive operating performance due to the dedicated efforts of our Stater Bros. Family members, despite continued competitive pricing pressures," said Jack H. Brown, chairman, president and c.e.o. of Stater Bros. "We remain committed to our valued customers to provide a friendly and satisfying shopping experience on each and every one of their visits to our supermarkets and maintain our commitment to being the low price leader."
Same store sales for the quarter were affected by the timing of the Easter holiday, which fell in the third quarter of the current year compared to the second quarter this year. Easter added approximately $7.8 million to fiscal 2005 Q2 sales. After taking the effect of the Easter holiday, same store sales increased 2.3 percent for this year's fiscal Q3. Year-to-date, same store sales increased 1 percent from last year.
Stater Bros.' quaterly net income was $5.7 million, down from last year's $7.3. Net income for the fiscal year-to-date increased, hitting $15.3 million, however, compared to $14.1 million in 2005.
The chain operates 162 supermarkets and Santee Dairies, a manufacturer of "Heartland Farms" diary products in Southern California.