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    Stater Bros. Sees Higher Sales, Lower Net Income in First Quarter

    COLTON, Calif. - Stater Bros. Holdings Inc. on Wednesday said its sales increased 2.9 percent to $662.6 million in the first quarter of fiscal 2003 ended Dec. 29, 2002. Like store sales increased 2.3 percent.

    COLTON, Calif. - Stater Bros. Holdings Inc. on Wednesday said its sales increased 2.9 percent to $662.6 million in the first quarter of fiscal 2003 ended Dec. 29, 2002. Like store sales increased 2.3 percent.

    Operating cash flow (EBITDA) declined to $26.2 million in the first quarter of fiscal 2003, compared to $27.0 million for the like period of last year.

    The company also reported lower net income of $2.9 million compared to net income of $3.9 million last year.

    "Our first-quarter results reflect improvement from the fourth quarter of last year while maintaining the ability to serve our valued customers and the acceptance of our marketing plan by our valued customers," said chairman, president and CEO Jack H. Brown.

    Stater Bros. Holdings Inc. is the largest privately held supermarket chain in Southern California and operates 156 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.

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