Stater Bros. posts increased sales, profit in FY2012
SAN BERNARDINO, Calif. — Sales at Stater Brothers increased by 1.83% to $67.8 million in fiscal year 2012, the company said in an earnings report.
The 167-store chain's sales for the fiscal year, which ended Sept. 30, were $3.9 billion, thanks in part to an extra week; without the extra week, sales would be $3.8 billion, but still higher than 2011's $3.7 billion. Profit for the year was $37.7 million, compared with $26.3 million in fiscal year 2011.
Sales for the fourth quarter were $1.025 billion, compared with $941.8 million in fourth quarter 2011. Sales for fourth quarter 2012 without the extra week would be $957.2 million.
"Our success in the current year is due to our valued customers responding favorably to our marketing efforts which have emphasized quality and value and has attracted new customers in fiscal 2012," Stater's president, chairman and CEO Jack Brown said. "Our results reflect the benefit of our debt refinancing last year which as significantly reduced our interest expense."