Stater Bros. Reporting Increased Sales
Stater Bros. company sales increased 0.83% in the first quarter of fiscal 2013 compared to the first quarter of fiscal 2012. Like store sales increased $8.0 million as well as consolidated sales, which increased to $968.7 million compared to $960.7 million from the first quarter of fiscal 2012. Customer counts also increased over 250,000 in this first quarter compared to the same quarter last year, however gross profit margin was down to 25.88% percent of sales compared to 27.03% of sales in first quarter fiscal 2012. The company also reported net income of $5.4 million compared to $9.0 million from the same quarter of the previous year. Jack H. Brown, Chairman, President and CEO of Stater Bros. stated, “The decline in net income was primarily due to a lower gross profit margin in the first quarter of fiscal 2013 compared to the first quarter of fiscal 2012 as a result of our commitment to keep prices low, to the extent possible, to help our 'Valued Customers' weather these tough economic times.” He continued, “We feel it is important to retain our customers so when the economy does finally turn around they will still be shopping at their local Stater Bros. Supermarket."