Stater Bros. Holdings' earnings report for the first quarter of fiscal 2011 reflects continuing economic challenges in the Inland Empire and surrounding counties.
But Jack Brown, the grocery chain's chairman and CEO, said store managers are reporting construction activity in some communities and economists predict an uptick in new-home sales this year.
"All the trends we see now look fairly good," he told investors in a conference call Wednesday.
San Bernardino-based Stater Bros. reported net income of $1.3 million for the quarter that ended Dec. 26, down from $6.7 million from the same period the year before.
To read the rest of the story, please go to: The Press-Enterprise (Riverside, CA).
