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
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
With the proliferation of both SQL and NoSQL databases, organizations can now target specific fit-for-purpose database tools for their different application needs regarding scalability, ease of use, ACID support, etc. Platform as a Service offerings make this even easier now, enabling developers to roll out their own database infrastructure in minutes with minimal management overhead. However, this same amount of flexibility also comes with the challenges of picking the right tool, on the right ...
Machine Learning helps make complex systems more efficient. By applying advanced Machine Learning techniques such as Cognitive Fingerprinting, wind project operators can utilize these tools to learn from collected data, detect regular patterns, and optimize their own operations. In his session at 18th Cloud Expo, Stuart Gillen, Director of Business Development at SparkCognition, discussed how research has demonstrated the value of Machine Learning in delivering next generation analytics to imp...
With over 720 million Internet users and 40–50% CAGR, the Chinese Cloud Computing market has been booming. When talking about cloud computing, what are the Chinese users of cloud thinking about? What is the most powerful force that can push them to make the buying decision? How to tap into them? In his session at 18th Cloud Expo, Yu Hao, CEO and co-founder of SpeedyCloud, answered these questions and discussed the results of SpeedyCloud’s survey.
The Internet of Things will challenge the status quo of how IT and development organizations operate. Or will it? Certainly the fog layer of IoT requires special insights about data ontology, security and transactional integrity. But the developmental challenges are the same: People, Process and Platform. In his session at @ThingsExpo, Craig Sproule, CEO of Metavine, demonstrated how to move beyond today's coding paradigm and shared the must-have mindsets for removing complexity from the develo...
The IETF draft standard for M2M certificates is a security solution specifically designed for the demanding needs of IoT/M2M applications. In his session at @ThingsExpo, Brian Romansky, VP of Strategic Technology at TrustPoint Innovation, explained how M2M certificates can efficiently enable confidentiality, integrity, and authenticity on highly constrained devices.
In today's uber-connected, consumer-centric, cloud-enabled, insights-driven, multi-device, global world, the focus of solutions has shifted from the product that is sold to the person who is buying the product or service. Enterprises have rebranded their business around the consumers of their products. The buyer is the person and the focus is not on the offering. The person is connected through multiple devices, wearables, at home, on the road, and in multiple locations, sometimes simultaneously...
Basho Technologies has announced the latest release of Basho Riak TS, version 1.3. Riak TS is an enterprise-grade NoSQL database optimized for Internet of Things (IoT). The open source version enables developers to download the software for free and use it in production as well as make contributions to the code and develop applications around Riak TS. Enhancements to Riak TS make it quick, easy and cost-effective to spin up an instance to test new ideas and build IoT applications. In addition to...
Identity is in everything and customers are looking to their providers to ensure the security of their identities, transactions and data. With the increased reliance on cloud-based services, service providers must build security and trust into their offerings, adding value to customers and improving the user experience. Making identity, security and privacy easy for customers provides a unique advantage over the competition.
CenturyLink has announced that application server solutions from GENBAND are now available as part of CenturyLink’s Networx contracts. The General Services Administration (GSA)’s Networx program includes the largest telecommunications contract vehicles ever awarded by the federal government. CenturyLink recently secured an extension through spring 2020 of its offerings available to federal government agencies via GSA’s Networx Universal and Enterprise contracts. GENBAND’s EXPERiUS™ Application...
SYS-CON Events announced today that Isomorphic Software will exhibit at DevOps Summit at 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Isomorphic Software provides the SmartClient HTML5/AJAX platform, the most advanced technology for building rich, cutting-edge enterprise web applications for desktop and mobile. SmartClient combines the productivity and performance of traditional desktop software with the simp...
"We've discovered that after shows 80% if leads that people get, 80% of the conversations end up on the show floor, meaning people forget about it, people forget who they talk to, people forget that there are actual business opportunities to be had here so we try to help out and keep the conversations going," explained Jeff Mesnik, Founder and President of ContentMX, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
"When you think about the data center today, there's constant evolution, The evolution of the data center and the needs of the consumer of technology change, and they change constantly," stated Matt Kalmenson, VP of Sales, Service and Cloud Providers at Veeam Software, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Redis is not only the fastest database, but it is the most popular among the new wave of databases running in containers. Redis speeds up just about every data interaction between your users or operational systems. In his session at 19th Cloud Expo, Dave Nielsen, Developer Advocate, Redis Labs, will share the functions and data structures used to solve everyday use cases that are driving Redis' popularity.
I wanted to gather all of my Internet of Things (IOT) blogs into a single blog (that I could later use with my University of San Francisco (USF) Big Data “MBA” course). However as I started to pull these blogs together, I realized that my IOT discussion lacked a vision; it lacked an end point towards which an organization could drive their IOT envisioning, proof of value, app dev, data engineering and data science efforts. And I think that the IOT end point is really quite simple…