Stater Bros. Q1 Sales, Profits Up
SAN BERNARDINO, Calif. - Even losing one day of sales in its 2008 fiscal first quarter, regional independent Stater Bros. Markets still saw a 4.3 percent increase for the 13-week period ended December 30, 2007, to $943 million, up from $904 million in 2007.
The timing of the Christmas holiday added one more sales day in first quarter of fiscal 2007 compared to the first quarter of fiscal 2008, and Christmas is the only day Stater Bros' stores are closed. After taking into consideration the effect of Christmas day, like store sales increased 3.3 percent over last year. Its profits were $10.8 million for the quarter, up from $9.9 million last year.
"The first quarter results were in line with management's projections as we remain committed to being the low price leader while providing a friendly and satisfying shopping experience to our customers on every one of their visits to our supermarkets," said Jack H. Brown, chairman, president and c.e.o. "Our transition into our new corporate office and distribution center is on schedule and moving along as planned."
Stater Bros. operates 164 supermarkets throughout southern California.
The timing of the Christmas holiday added one more sales day in first quarter of fiscal 2007 compared to the first quarter of fiscal 2008, and Christmas is the only day Stater Bros' stores are closed. After taking into consideration the effect of Christmas day, like store sales increased 3.3 percent over last year. Its profits were $10.8 million for the quarter, up from $9.9 million last year.
"The first quarter results were in line with management's projections as we remain committed to being the low price leader while providing a friendly and satisfying shopping experience to our customers on every one of their visits to our supermarkets," said Jack H. Brown, chairman, president and c.e.o. "Our transition into our new corporate office and distribution center is on schedule and moving along as planned."
Stater Bros. operates 164 supermarkets throughout southern California.