Wednesday, May 11, 2011

They Needed Help to Locate IN GT and Paid 0 Park Fees

The Press-Enterprise

Stater Bros. Holdings reported net income of $8.8 million for the second quarter that ended March 27, a 47 percent increase from $6 million in the same period last year.

Total sales were up 3 percent in the most recent quarter to $913.4 million.

Net earnings were down for the first six months, totaling $10 million for fiscal 2011, compared with $12.7 million last year. Results for 2010 included a $5.6 million after-tax gain related to the sale of the company's dairy business.

Jack Brown, chairman and CEO of Stater Bros. Markets, attributed the improvement to customer loyalty, and the company's decision to reduce margins during the tough economy in order to keep prices low.

Stater Bros., headquartered in San Bernardino, operates 167 supermarkets throughout its Southern California chain.