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A focus on keeping prices low and service high has driven increased sales and comps for Stater Bros. second quarter ended March 25.
Sales for the quarter were $937.7 million, up $24.3 million or 2.66 percent last year’s $913.4 million. Sales for the 26 weeks ended March 25, 2012 were $1.9 billion, up $86.0 million or 4.74 percent from the same period last year. Like store sales increased 2.66 percent for fiscal quarter and 4.74 pertcent for the twenty-six weeks of fiscal 2012.
"During these tough economic times, we made a conscious marketing decision to help our 'Valued Customers' by continuing to provide them with low prices, quality and value on each of their visits to their Stater Bros. Market,” sais Jack Brown, chairman, CEO, and president of Stater Bros. “By keeping our prices low, our quality high and providing our customers great customer service, we have retained our valued customers and have grown customer counts even though the economy in our marketing area continues to be challenged. We continue our company wide expense reduction programs.”
The company reported net income for the second quarter of $16.4 up from last year’s $9.3 million. Net income for the 26-week period of fiscal 2012 was $25.4 million. Up from $12.2 million last year.
"Our refinancing of a significant portion of our debt in the first quarter of fiscal 2011 allowed us to reduce interest expense, has made it possible for us to use these savings to help ease our customers' financial burden by keeping our prices low even as inflation has increased the cost of many of the items we sell,” said Brown. “Our customers have responded by continuing to shop at their local Stater Bros. Market."
San Bernardino, Calif.-based Stater Bros. operates 167 Supermarkets in southern California.