SAN BERNARDINO, Calif. — Stater Bros. here said sales and earnings rose for the fiscal third quarter, which ended June 26. Net income rose 18.3% to $7.1 million for the 13-week period, while sales rose 4.3% to $939 million and like-store sales jumped 4.3%.
For the 39-week period net income fell 8.6% to $17.1 million, while sales rose 1.6% to $2.8 billion and like-store sales were up 1.7%.
The company said customer count increased by approximately 1.4 million during fiscal 2011, which it attributed to customer loyalty.
According to Jack H. Brown, chairman and chief executive officer, "Our sales and customer-count increases indicate our valued customers appreciatie our strategy of sharing their pain by holding prices as low as we can to help them through these tough economic times."
Brown said Stater's debt refinancing during the first part of the year "has been very helpful in allowing us to sacrifice margin in the short term to retain our valued customers in the long term."