Stater Bros. profits rise, reverse sales decline

Increased grocery sales led to an $8.8 million profit for Stater Bros. Holdings Inc. in the quarter ending March 27, the grocery chain said late Tuesday.
The second fiscal quarter profit was a 46.7 percent rise from the same quarter last year. Store sales grew 3.15 percent to $913.4 million, reversing the decline in sales seen in the first quarter.
High unemployment and rising food prices led
Chief Financial Officer Phillip J. Smith to predict earlier this year that the San Bernardino-based chain would see a decline in sales in fiscal year 2011.

Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>