Californian retailer Stater Bros. has posted higher first-quarter sales and profits.
The retailer, which runs 167 supermarkets in the state, saw net income more than double to US$11.1m in the 13 weeks to 29 December.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Operating profit was up 44.1% at $30.1m as Stater Bros. benefited from higher sales and moves to keep costs down.
Sales grew 1.6% to $984m. Like-for-like sales were up 1.4%.
The retailer managed to increase its gross margins, although Jack Brown, the company’s chairman, president and CEO, said they had “sacrificed” some profitability by keeping prices down.
“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,” Brown said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
