Exhibit 99.1
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301 S. Tippecanoe Avenue San Bernardino, California 92408 | | Contact: Phil Smith Stater Bros. Holdings Inc. (909)733-5287 |
PRESS RELEASE
For Immediate Release
Tuesday, February 9, 2010
STATER BROS. HOLDINGS INC. ANNOUNCE FIRST QUARTER 2010 RESULTS
SUPERMARKET SALES FLAT — DAIRY ASSET SALE COMPLETED
SAN BERNARDINO, CALIFORNIA- February 9, 2010: Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the first quarter of fiscal 2010 ended December 27, 2009.
The Company’s supermarket sales were relatively flat declining 1.11% in the first quarter of fiscal 2010 compared to the same period of the prior year. Like store sales decreased 2.19% or $20.4 million for the thirteen weeks ended December 27, 2009 compared to the thirteen weeks ended December 28, 2008. Consolidated sales in the first quarter of fiscal 2010 were $923.9 million compared to $959.3 million in the first quarter of fiscal 2009, an overall decline of $35.4 million. The sale of dairy assets affected the comparison of sales between the first quarter of fiscal 2010 and the first quarter of fiscal 2009. The dairy accounted for $25.0 million of the sales decline.
During the thirteen week first quarter ended December 27, 2009, the Company completed the sale of substantially all of the assets of its dairy subsidiary to Dean Foods, Inc. and ceased all dairy manufacturing activity. The Company recognized an after-tax gain of $4.7 million from the sale.
The Company reported net income for the thirteen week first quarter ended December 27, 2009 of $6.7 million compared to net income of $3.5 million for the thirteen week first quarter ended December 28, 2008.
Brown said; “During the quarter we completed the sale of the dairy to Dean Foods, Inc. the premier milk producer in the country. We sold the dairy for the right business reason which was to protect the jobs of our employees at the dairy while allowing us to focus on our core business of operating supermarkets that provide outstanding value and service to our “Valued Customers”.
Our economy continues to have a negative effect on the family budgets of our customers. Our emphasis in these tough economic times is to retain customers by providing value so our customers get the most out of their shopping dollars while providing them with a friendly and satisfying experience on each and every one of their visits to our supermarkets.
While our quarterly like store sales declined over the previous year, our customer counts were up over the same time last year. We remain committed to cost control as we navigate through this national economic recovery.”
Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in Southern California and operates 167 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.
For information contact: Jack H. Brown, Chairman, President and Chief Executive Officer at (909) 733-5000.
STATER BROS. MARKETS...SERVING SOUTHERN CALIFORNIA FOR OVER 74 GOLDEN YEARS
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