Welcome!

News Feed Item

Stater Bros. Sales And Customer Counts Increase In The First Quarter Of Fiscal 2014

SAN BERNARDINO, Calif., Feb. 11, 2014 /PRNewswire/ -- Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the thirteen week period ended December 29, 2013.

(Logo: http://photos.prnewswire.com/prnh/20121101/LA04466LOGO)

The Company's consolidated sales in the thirteen weeks ended December 29, 2013 were $984.0 million up $15.3 million or 1.58% from the thirteen weeks ended December 30, 2012 consolidated sales of $968.7 million.  Like store sales also increased $13.7 million or 1.42% for the thirteen weeks ended December 29, 2013 compared to the thirteen weeks ended December 30, 2012.

Gross profit margins for the thirteen weeks ended December 29, 2013 were 26.28% of sales compared to the thirteen weeks ended December 30, 2012 gross profit margin of 25.88% of sales.

The Company reported net income for the first quarter ended December 29, 2013 of $11.1 million compared to net income of $5.4 million for first quarter of the prior fiscal year.

Brown said, "We are pleased with our sales and customer count growth in the first quarter of fiscal 2014 given the extremely competitive environment in Southern California.  We continue to be the number '1' full service supermarket chain in Southern California.

"We believe  that our sales and customer count growth is due to our 'Valued Customers' positive response to our 'Low Price' marketing strategy of keeping our prices as low as possible during these continued challenging economic times while continuing to provide our customers the service and value they deserve on each of their visits to their local Stater Bros.' supermarket. 

"During the extended economic downtown, we have sacrificed gross margin by not fully passing on the costs of inflation which has allowed us to keep our prices low for our 'Valued Customers'.  In addition, in order to continue to invest in our customers, we are constantly looking for opportunities where we can reduce our costs in areas such as improving our shrink or product loss, and improving our efficiencies at both our stores and in our distribution facility.  

"Our strategy over the past several years has had a positive impact on our sales growth.  We have been and remain committed to providing low prices, great value and outstanding service to all of our 'Valued Customers'."

Stater Bros. is the largest privately owned Supermarket Chain in Southern California and the largest private employer in both San Bernardino County and Riverside County, with annual sales in 2013 of $3.9 billion.  The Company currently operates 167 Supermarkets, and there are over 18,000 members of the Stater Bros. Supermarket Family. 

STATER BROS ... PROUDLY SERVING SOUTHERN CALIFORNIA FAMILIES FOR 78 YEARS

STATER BROS. HOLDINGS INC.

Condensed Consolidated Balance Sheets

(In thousands)

Unaudited










09/29/13


12/29/13

Assets





Current assets






Cash and cash equivalents

$ 242,818


$ 210,949



Receivables, net

37,493


49,773



Inventories

228,116


258,192



Other

39,876


40,338








Total current assets

548,303


559,252








Property and equipment, net

600,019


597,624








Deferred debt issuance costs, net

6,173


5,628


Other

42,851


45,976







Total assets

$ 1,197,346


$ 1,208,480













Liabilities and stockholder's equity





Current liabilities






Accounts payable

$ 144,214


$ 151,446



Accrued expenses and other liabilities

153,987


152,334



Current portion of long-term debt

25,582


90,503








Total current liabilities

323,783


394,283








Long-term debt, less current portion

608,711


540,000


Capital lease obligations, less current portion

414


291


Other long-term liabilities

150,988


149,400








Total stockholder's equity

113,450


124,506







Total liabilities and stockholder's equity

$ 1,197,346


$ 1,208,480

 

STATER BROS. HOLDINGS INC.

Condensed Consolidated Statements of Income

(In thousands)

Unaudited








13 Weeks


13 Weeks



Ended


Ended



12/30/12


12/29/13

Sales

$ 968,744


$ 984,025






Gross profit

250,729


258,635






Operating expenses:





Selling, general and administrative expenses

220,079


217,138


(Gain) loss on sale of property and equipment

(1,933)


10


Depreciation and amortization

11,683


11,373

Total operating expenses

229,829


228,521






Operating profit

20,900


30,114






Interest income

23


15

Interest expense

(11,809)


(11,486)






Income before income taxes

9,114


18,643






Income taxes

3,665


7,587






Net income

$ 5,449


$ 11,056

 

Contact: Dave Harris
Executive Vice President Finance,
Chief Financial Officer and Principal Accounting Officer
P.O. Box 150, San Bernardino, CA 92402, Phone: (909) 733-5080

SOURCE Stater Bros. Holdings Inc.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
Everyone wants to use containers, but monitoring containers is hard. New ephemeral architecture introduces new challenges in how monitoring tools need to monitor and visualize containers, so your team can make sense of everything. In his session at @DevOpsSummit, David Gildeh, co-founder and CEO of Outlyer, will go through the challenges and show there is light at the end of the tunnel if you use the right tools and understand what you need to be monitoring to successfully use containers in your...
In his general session at 19th Cloud Expo, Manish Dixit, VP of Product and Engineering at Dice, discussed how Dice leverages data insights and tools to help both tech professionals and recruiters better understand how skills relate to each other and which skills are in high demand using interactive visualizations and salary indicator tools to maximize earning potential. Manish Dixit is VP of Product and Engineering at Dice. As the leader of the Product, Engineering and Data Sciences team at D...
SYS-CON Events announced today that T-Mobile will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. As America's Un-carrier, T-Mobile US, Inc., is redefining the way consumers and businesses buy wireless services through leading product and service innovation. The Company's advanced nationwide 4G LTE network delivers outstanding wireless experiences to 67.4 million customers who are unwilling to compromise on ...
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
With billions of sensors deployed worldwide, the amount of machine-generated data will soon exceed what our networks can handle. But consumers and businesses will expect seamless experiences and real-time responsiveness. What does this mean for IoT devices and the infrastructure that supports them? More of the data will need to be handled at - or closer to - the devices themselves.
New competitors, disruptive technologies, and growing expectations are pushing every business to both adopt and deliver new digital services. This ‘Digital Transformation’ demands rapid delivery and continuous iteration of new competitive services via multiple channels, which in turn demands new service delivery techniques – including DevOps. In this power panel at @DevOpsSummit 20th Cloud Expo, moderated by DevOps Conference Co-Chair Andi Mann, panelists will examine how DevOps helps to meet th...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
Building a cross-cloud operational model can be a daunting task. Per-cloud silos are not the answer, but neither is a fully generic abstraction plane that strips out capabilities unique to a particular provider. In his session at 20th Cloud Expo, Chris Wolf, VP & Chief Technology Officer, Global Field & Industry at VMware, will discuss how successful organizations approach cloud operations and management, with insights into where operations should be centralized and when it’s best to decentraliz...
NHK, Japan Broadcasting, will feature the upcoming @ThingsExpo Silicon Valley in a special 'Internet of Things' and smart technology documentary that will be filmed on the expo floor between November 3 to 5, 2015, in Santa Clara. NHK is the sole public TV network in Japan equivalent to the BBC in the UK and the largest in Asia with many award-winning science and technology programs. Japanese TV is producing a documentary about IoT and Smart technology and will be covering @ThingsExpo Silicon Val...
@DevOpsSummit at Cloud taking place June 6-8, 2017, at Javits Center, New York City, is co-located with the 20th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The widespread success of cloud computing is driving the DevOps revolution in enterprise IT. Now as never before, development teams must communicate and collaborate in a dynamic, 24/7/365 environment. There is no time to wait for long developm...
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market across the USA and Europe, we work with a variety of customers from emerging startups to Fortune 1000 companies.
Financial Technology has become a topic of intense interest throughout the cloud developer and enterprise IT communities. Accordingly, attendees at the upcoming 20th Cloud Expo at the Javits Center in New York, June 6-8, 2017, will find fresh new content in a new track called FinTech.
In his keynote at 19th Cloud Expo, Sheng Liang, co-founder and CEO of Rancher Labs, discussed the technological advances and new business opportunities created by the rapid adoption of containers. With the success of Amazon Web Services (AWS) and various open source technologies used to build private clouds, cloud computing has become an essential component of IT strategy. However, users continue to face challenges in implementing clouds, as older technologies evolve and newer ones like Docker c...
SYS-CON Events announced today that Interoute, owner-operator of one of Europe's largest networks and a global cloud services platform, has been named “Bronze Sponsor” of SYS-CON's 20th Cloud Expo, which will take place on June 6-8, 2017 at the Javits Center in New York, New York. Interoute is the owner-operator of one of Europe's largest networks and a global cloud services platform which encompasses 12 data centers, 14 virtual data centers and 31 colocation centers, with connections to 195 add...