Stater Bros. saw both its earnings and sales climb in its third quarter as the regional US retailer kept its prices low to retain customers.
Net profit reached US$10m in the three months to the end of June, a 36.9% increase on the prior year. Operating profit was up 15.2% to $23.9m.
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Sales in the period were up 2% to $968.8m, while like-for-like store sales grew 3.18%.
“We believe that these growths are due to our valued customers’ positive response to our low-price marketing strategy of keeping our prices as low as possible during these continued challenging economic times while continuing to provide our customers the service and value they deserve on each of their visits to their local Stater Bros. Supermarket,” said CEO Jack Brown.
