Jack H. Brown, chairman, president, and chief executive officer of Stater Bros. Holdings Inc., announced financial results for the first quarter of fiscal 2009, which ended December 28, 2008.
Sales for the first quarter of fiscal 2009 increased 1.72% to $959.3 million compared with $943.0 million for the first quarter of fiscal 2008. Like-store sales rose 1.40%, or $12.7 million, for the first quarter of fiscal 2009 versus the first quarter of fiscal 2008.
The company reported net income of $3.5 million for first quarter of fiscal 2009, in contrast to net income of $10.8 million for the first quarter of fiscal 2008.
"Our plan is to assist our customers during these very tough economic times . . . and the plan is working," Brown said. "By holding back on price increases, which affected our profits, we served approximately one million more customers in the first quarter of fiscal 2009 than in the first quarter of fiscal 2008."
Stater Bros. Holdings operates 165 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.
