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COLTON, Calif. - Stater Bros. Holdings Inc. here said yesterday its Stater Bros. Markets subsidiary earned a sales increase of close to 3 percent and a like-store sales gain of under 2 percent for the latest quarter ended June 24, 2007.
Sales for the thirteen week third quarter were up 2.71 percent to $910.2 million compared to $886.2 million for the third quarter ended June 25, 2006, the chain said. Like store sales increased 1.73 percent, or $14.7 million, for the period. Stater Bros. said these were record gains for the third quarter.
For the latest 39 weeks, sales increased $63.5 million or 2.43 percent, and amounted to $2.68 billion, compared to $2.62 billion for the same period in fiscal 2006. Year-to-date like store sales increased 1.55 percent in fiscal 2007 compared to the year ago, said the grocer.
Net income for the quarter was $15.6 million, compared to net income of $5.7 million for the year ago. For the year-to-date net income was $39 million in 2007, compared to $15.3 million in 2006.
"Our sales and earnings trends continue to reflect positively on our operations," said Jack H. Brown, chairman, president and c.e.o. of Stater Bros. "I'm especially pleased with our expense control and continued improvement in shrink management."
Stater Bros. Markets is the largest privately held supermarket chain in Southern California, with 163 supermarkets. It also owns and operates Santee Dairies, manufacturer of "Heartland Farms" dairy products.