Stater Bros. reports flat Q1 sales
SAN BERNARDINO, Calif. Regional supermarket chain Stater Bros. reported relatively flat first-quarter sales for fiscal 2010, the company announced Wednesday.
Supermarket sales dropped 1.11%, compared with the year-ago period, as same-store sales decreased 2.19% or $20.4 million for the thirteen weeks ended Dec. 27, 2009.
During the thirteen week first quarter ended Dec. 27, 2009, the company also completed the sale of substantially all of the assets of its dairy subsidiary to Dean Foods, and ceased all dairy manufacturing activity. The company recognized an after-tax gain of $4.7 million from the sale.
"Our economy continues to have a negative effect on the family budgets of our customers," said Jack Brownm Stater Bros. chairman president CEO. "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," Brown added.
Stater Bros. operates 167 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.