SAN BERNARDINO, Calif. — Today, Jack H. Brown, Chairman, President and Chief
Executive Officer of Stater Bros. Holdings Inc. announced financial results for
the first quarter of fiscal 2010 ended December 27, 2009.
The Company’s supermarket sales were relatively flat, declining 1.11% in the
first quarter of fiscal 2010 compared to the same period of the prior year. Like
store sales decreased 2.19% or $20.4 million for the thirteen weeks ended
December 27, 2009 compared to the thirteen weeks ended December 28, 2008.
Consolidated sales in the first quarter of fiscal 2010 were $923.9 million
compared to $959.3 million in the first quarter of fiscal 2009, an overall
decline of $35.4 million. The sale of dairy assets affected the comparison of
sales between the first quarter of fiscal 2010 and the first quarter of fiscal
2009. The dairy accounted for $25.0 million of the sales decline.
During the thirteen week first quarter ended December 27, 2009, the Company
completed the sale of substantially all of the assets of its dairy subsidiary to
Dean Foods, Inc. and ceased all dairy manufacturing activity. The Company
recognized an after-tax gain of $4.7 million from the sale.
The Company reported net income for the thirteen week first quarter ended
December 27, 2009 of $6.7 million compared to net income of $3.5 million for the
thirteen week first quarter ended December 28, 2008.
Brown said, “During the quarter we completed the sale of the dairy to Dean
Foods, Inc., the premier milk producer in the country. We sold the dairy for the
right business reason which was to protect the jobs of our employees at the
dairy while allowing us to focus on our core business of operating supermarkets
that provide outstanding value and service to our ‘Valued Customers.’
“Our economy continues to have a negative effect on the family budgets of our
customers. Our emphasis in these tough economic times is to retain customers by
providing value so our customers get the most out of their shopping dollars
while providing them with a friendly and satisfying experience on each and every
one of their visits to our supermarkets.
“While our quarterly like store sales declined over the previous year, our
customer counts were up over the same time last year. We remain committed to
cost control as we navigate through this national economic recovery.”
Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in
Southern California and operates 167 supermarkets through its wholly owned
subsidiary, Stater Bros. Markets.
For information contact: Jack H. Brown, Chairman, President and Chief Executive
Officer at (909) 733-5000 (909) 733-5000.
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