Stater Bros. Announces Fiscal 2013 Earnings, 13 Weeks And 52 Week Sales And Customer Counts Increase

SAN BERNARDINO, Calif., Dec. 17, 2013 /PRNewswire/ -- Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced sales and earnings for the year ended September 29, 2013.

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The comparison of sales and earnings for fiscal 2013 compared to fiscal 2012 is affected by fiscal 2012 having an extra week of sales for both the fourth quarter and the fiscal year.  The fourth quarter of fiscal 2013 was a thirteen week quarter while fiscal 2012 was a fourteen week quarter.  The 2013 fiscal year was a 52-week year while 2012 was a 53-week year. The extra week in the prior year added approximately $67.8 million to the prior year's fourth quarter and fiscal year.  Fourth quarter fiscal 2013 sales were $960.4 million an increase of $3.2 million or 0.33% compared to normalized thirteen week 2012 fourth quarter sales.  Fiscal 2013 sales were $3.9 billion an increase of $54.4 million or 1.43% over normalized fifty-two week fiscal 2012 sales.  Like store sales increased 0.58% in the fourth quarter and 1.53% in fiscal 2013 over the same periods of the prior year.

The Company reported net income of $3.4 million in the fourth quarter of fiscal 2013 and $5.0 million in the fourth quarter of fiscal 2012.  Net income was $30.4 million and $37.7 million for fiscal 2013 and fiscal 2012, respectively.

Brown said, "We are pleased with our increase in sales in fiscal 2013.  We've increased sales and customer counts as our "Valued Customers" have responded favorably to our marketing strategy of keeping our prices low during these continued challenging economic times.  During the prolonged economic downturn, we have intentionally sacrificed some gross margin which has affected our current year earnings. Over the past three years, we have reduced our debt by approximately $176.5 million and by December 31, 2013, we will make an additional $13.9 million reduction in our term loan.  This has allowed us to lower our interest costs and invest more in our customers.  During these times, low prices and value are even more important as our customers continue to face challenges to their home budgets."

STATER BROS ... PROUDLY SERVING SOUTHERN CALIFORNIA FAMILIES FOR 77 YEARS

Contact:  Dave Harris
Executive Vice President Finance,
Chief Financial Officer and Principal Accounting Officer
P.O. Box 150, San Bernardino, CA 92402, Phone: (909) 733-5080

SOURCE Stater Bros. Holdings Inc.