USA: Stater Bros Holdings announces Q1 results
Stater Bros Holdings, the largest privately held supermarket chain in Southern California, reported a 6% increase in sales to US$662.6m for the thirteen-week first quarter ended 30 December 2001.
Like store sales also increased 6% for the quarter, year on year, while net income reached US$3.9m from US$1.8m in the previous year.
Operating cash flow (EBITDA) amounted to US$27m for the period, compared to US$22.9m for the first quarter of fiscal 2001.
Jack H. Brown, chairman, president and CEO, said: "Our first quarter results reflect the commitments our people have made and the challenge they have accepted to serve our 'Valued Customers' currently and in the future. The results also reflect the acceptance of our marketing plan by our 'Valued Customers'. Our team works everyday for our 'Valued Customers' and their business."
Stater Bros Holdings operates 155 supermarkets through its wholly owned subsidiary, Stater Bros. Markets. The company employes over 13,000 workers, making it the largest private employer in the Inland Empire of Southern California.
In May 2002, the company will open its 156th supermarket in Chino Hills, California.
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