Stater Bros. Hit By Lower Q4 Profits


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Thu. December 20th, 2012

<p style="text-indent:0px; line-height:12px;"><span style="font-weight:bold;">San Bernardino, CA-</span><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">By ANUK Staff<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">12.20.12</p><hr class="legacyRuler"><hr class="invisible minimal-padding"><p>Stater Bros. Holdings has released the company's fourth quarter and fiscal 2012 sales. The profits for the quarter fell although the retailer's sales and earnings showed an increase for the recent fiscal year. Net income decreased from $6.5 million to $5 million, for the same year over year quarter, according to a press release.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><img src="https://cdn.andnowuknow.com/legacyWriterImages/hl_staterbros_dec_2012_BANNER.jpg" alt="Images 122012" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">The company posted an increase in sales for the 14-week period at approximately $1 billion, an increase of 8.8% from the comparable quarter in 2011. Stater Bros. reported fiscal 2012 sales were $3.9 billion with the extra week in fiscal 2012 adding $67.8 million or 1.83% to sales. Like store sales increased 3.04% in fiscal 2012 over the comparable periods. The sales and earnings for the fifty-three week fiscal year which ended September 30, 2012 were announced by Jack H. Brown , Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc.<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><img src="https://cdn.andnowuknow.com/legacyWriterImages/StoreLocatorImage.jpg" alt="Images 122012" /><hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding">Mr. Brown said, "We are pleased with our fiscal 2012 results. We increased sales, increased customers and reduced our interest expense by $9.4 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. Our results reflect the benefit of our debt refinancing last year which has significantly reduced our interest expense. The reduction in interest expense is just one measure that we've taken to reduce cost which has allowed us to keep prices low to our customers. During these tough economic times, low prices and value are even more important as our customers continue to face challenges to their home budgets."<hr class="legacyRuler"><hr class="legacyRuler"><hr class="invisible minimal-padding"><a class="btn btn-sm btn-primary col-lg-12" style="white-space: normal;" href="http://www.staterbros.com/TopMenu/Home.aspx" target="_new"> Stater Bros.</a></p><hr class="legacyRuler"><hr class="invisible minimal-padding">