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May 14, 2002

USA: Stater Bros Holdings sees Q2 sales up 6.8%

Stater Bros Holdings, the largest privately-owned supermarket chain in Southern California, saw sales for the 13-week Q2 ended 31 March 2002 increase 6.8% to US$654.2m. Jack H. Brown, chairman, president and CEO, added that total sales for the 26-week year to date period increased 6.4% and amounted to US$1.317bn, compared to US$1.237bn for the previous year. Same-store sales increased 6.8% and 6.4% for the Q2 and H1 periods, respectively.

Stater Bros Holdings, the largest privately-owned supermarket chain in Southern California, saw sales for the 13-week Q2 ended 31 March 2002 increase 6.8% to US$654.2m.

Jack H. Brown, chairman, president and CEO, added that total sales for the 26-week year to date period increased 6.4% and amounted to US$1.317bn, compared to US$1.237bn for the previous year. Same-store sales increased 6.8% and 6.4% for the Q2 and H1 periods, respectively.

EBITDA amounted to US$28.2m in the Q2, and compares to US$22.1m year on year. FOr the H1 comparable periods EBITDA was US$55.1m in fiscal 2002 and US$45m in fiscal 2001.

The company reported Q2 net income of US$4.3m compared to US$1.4m in 2001. Net income for the H1 period amounted to US$8.2m in 2002 and US$3.2m in 2001.

Brown said: “These results reflect the efforts of our management team and the members of our Stater Bros Family.”

Stater Bros. Markets currently operates 156 outlets; 47 in San Bernardino County, 40 in Riverside County, 30 in Orange County, 27 in Los Angeles County, ten in Northern San Diego County, and two in Kern County. There are over 13,000 employees at the company.

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