AddThis

Economy hits Stater Bros.' fiscal-year results

SAN BERNARDINO, Calif. — Stater Bros. on Wednesday disclosed a more than 4% decrease in sales for fiscal year 2010.

The California supermarket chain said sales for the fiscal year ended Sept. 26 were $3.61 billion, down from $3.77 billion in fiscal year 2009. Sales for the fourth quarter also experience a decline, dropping to $897.4 million, or 3.15%, since the year-ago period.

Net income for Stater Bros. totaled $24.6 million for the 2010 fiscal year, compared with $34.8 million in the 2009 fiscal year. The results for the fourth quarters of fiscal 2010 and fiscal 2009 were net income of $5.9 million and $5 million, respectively.

Stater Bros. leader Jack Brown said that while the chain is facing tough economic and competitive pressures, the retailer is "committed to controlling costs as [we] weather the effect of these economic times."

© 2014 Retailing Today. All Rights Reserved.