Exhibit 99.1
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P.O. Box 150
San Bernardino, California 92408 | | Contact:
Phil Smith
Stater Bros. Holdings Inc.
(909) 733-5287 |
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P R E S S R E L E A S E
For Immediate Release
Monday, May 12, 2008
STATER BROS. HOLDINGS INC. ANNOUNCES SECOND QUARTER SALES INCREASE –
NEW DRY DISTRIBUTION CENTER COMPLETED AND OPERATING
San Bernardino, California. May 12, 2008- Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the thirteen week second quarter and twenty-six week year-to-date periods ended on March 30, 2008.
Sales for the thirteen week second quarter ended March 30, 2008, increased 6.85% to $925.4 million compared to $866.1 million for the thirteen weeks ended March 25, 2007. The timing of Christmas Day resulted in one more sales day in the second quarter of 2008 compared to the second quarter of fiscal 2007. Christmas Day, the only day the Company’s stores are closed, fell in first quarter of fiscal 2008 and the second quarter of fiscal 2007. In addition, the Easter holiday fell in the second quarter of fiscal 2008 and in the third quarter of fiscal 2007. After taking into consideration the timing effect of both Christmas Day and the Easter Holiday, like store sales increased 3.7% for the thirteen weeks ended March 30, 2008.
Total sales for the twenty-six weeks ended March 30, 2008, increased $98.0 million or 5.5% and amounted to $1.87 billion compared to $1.77 billion for the same period in fiscal 2007. Year-to-date like store sales increased 3.5% in fiscal 2008 compared to the same period in fiscal 2007.
The Company reported net income of $13.5 million for both of the thirteen week second quarters of fiscal 2008 and fiscal 2007. Net income for the fiscal year-to-date periods amounted to $24.3 million in 2008 and $23.4 million in 2007.
Brown said; “We were pleased with our operating results for the quarter and the first twenty-six weeks of our fiscal year. We have reached a historic milestone as we have completed the transition to our new dry distribution center at the former Norton Air Force base. By the end of our current fiscal year, we will complete our new refrigerated distribution center, which is the final phase of our distribution consolidation. Our new state of the art distribution center will allow us to better serve our “Valued Customers”. We remain committed to being the low price leader while providing a friendly and satisfying shopping experience to our “Valued Customers” on each and every one of their visits to our Supermarkets, especially in these tough economic times.”
Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in Southern California and operates 165 supermarkets through its wholly owned subsidiary, Stater Bros. Markets. Stater Bros. Markets also owns and operates Santee Dairies, manufacturer of quality “Heartland Farms” dairy products.
For information contact: Jack H. Brown, Chairman, President and Chief Executive Officer at (909) 733-5000.
STATER BROS. MARKETS...SERVING SOUTHERN CALIFORNIA FOR 71 GOLDEN YEARS
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