Exhibit 99.4
 | 21700 Barton Road P.O. Box 150 Colton, California 92324 | Contact: Phil Smith Stater Bros. Holdings Inc. (909) 783-5287 |
P R E S S R E L E A S E
For Immediate Release
Tuesday, February 10, 2004
STATER BROS. HOLDINGS INC. ANNOUNCES RECORD SALES AND
EARNINGS FOR FIRST QUARTER RESULTS
Colton, California. February 10, 2004; Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the first quarter of fiscal 2004 ended December 28, 2003.
Sales for the thirteen week first quarter ended December 28, 2003 increased 50.6% to $1.027 billion compared to $681.5 million for the thirteen weeks ended December 29, 2002. Like store sales increased 49.3% for the thirteen weeks ended December 28, 2003 over the thirteen weeks ended December 29, 2002.
The Company reported net income for the thirteen week first quarter ended December 28, 2003 of $34.6 million compared to net income of $2.9 million for the thirteen week first quarter ended December 29, 2002.
Brown said; “Our first quarter results reflect the tremendous increase in customer counts as many customers of our competitors’ affected by the labor dispute chose to shop at Stater Bros. Markets during this time. The results are a tribute to our Stater Bros. Family members who have provided excellent service not only to our existing “Valued Customers” but to all the new “Valued Customers” we have met and served. We are grateful to both our long term customers and those that may be shopping with us for the first time. We remain committed to providing a friendly and satisfying shopping experience to all our “Valued Customers” on every one of their visits to our stores.”
Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in Southern California and operates 157 supermarkets through its wholly owned subsidiary, Stater Bros. Markets.
For information contact: Jack H. Brown, Chairman, President and Chief Executive Officer at (909) 783-5000.
Stater Bros. Markets operates 157 Supermarket locations, with 47 in San Bernardino County, 41 in Riverside County, 30 in Orange County, 27 in Los Angeles County, 10 in Northern San Diego County, and 2 in Kern County. There are over 14,000 members of the Stater Bros. “Family” of Employees. Stater Bros. is the largest private employer in the Inland Empire of Southern California, which is one of the fastest growing areas in the United States. Headquartered in Colton, California, Stater Bros. has been serving Southern California customers since 1936.
STATER BROS. MARKETS...SERVING SOUTHERN CALIFORNIA FOR 67 GOLDEN YEARS
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STATER BROS. HOLDINGS INC.
Condensed Balance Sheets
(In thousands)
Unaudited
| 09/28/03 | 12/28/03 | |||||||||
| Assets | ||||||||||
| Current Assets | ||||||||||
| Cash | $ | 111,152 | $ | 235,904 | ||||||
| Restricted Cash | — | 20,000 | ||||||||
| Receivables | 27,571 | 30,410 | ||||||||
| Inventories | 172,267 | 185,268 | ||||||||
| Other | 21,755 | 24,726 | ||||||||
| Total current assets | 332,745 | 496,308 | ||||||||
| Investment in unconsolidated affiliate | 16,910 | 17,536 | ||||||||
| Property and equipment, net | 302,145 | 307,872 | ||||||||
| Deferred debt issuance costs, net | 10,486 | 9,624 | ||||||||
| Other | 5,540 | 5,547 | ||||||||
| Total Assets | $ | 667,826 | $ | 836,887 | ||||||
| Liabilities and Stockholders’ Deficit | ||||||||||
| Current Liabilities | ||||||||||
| Accounts payable | $ | 112,458 | $ | 181,377 | ||||||
| Accrued expenses and other liabilities | 94,714 | 140,583 | ||||||||
| Current portion of capital lease obligations and long-term debt | 1,056 | 1,042 | ||||||||
| Total current liabilities | 208,228 | 323,002 | ||||||||
| Long-term debt, less current portion | 458,750 | 458,750 | ||||||||
| Capital lease obligations, less current portion | 9,926 | 9,678 | ||||||||
| Other long-term liabilities | 54,916 | 74,808 | ||||||||
| Common stockholders’ deficit | (63,994 | ) | (29,351 | ) | ||||||
| Total Liabilities and Stockholders’ Deficit | $ | 667,826 | $ | 836,887 | ||||||
STATER BROS. HOLDINGS INC.
Condensed Statements of Income
(In thousands)
Unaudited
| 13 Weeks | 13 Weeks | ||||||||
| Ended | Ended | ||||||||
| 12/29/02 | 12/28/03 | ||||||||
| Sales | $ | 681,509 | $ | 1,026,553 | |||||
| Gross profit | 184,156 | 304,882 | |||||||
| Operating Expenses: | |||||||||
| Selling, general and administrative expenses | 160,399 | 226,894 | |||||||
| Depreciation and amortization | 6,328 | 7,426 | |||||||
| Total operating expenses | 166,727 | 234,320 | |||||||
| Operating profit | 17,429 | 70,562 | |||||||
| Interest income | 272 | 384 | |||||||
| Interest expense | (13,258 | ) | (13,176 | ) | |||||
| Equity in income from unconsolidated affiliate | 746 | 626 | |||||||
| Other expenses, net | (389 | ) | (453 | ) | |||||
| Income before income taxes (benefit) | 4,800 | 57,943 | |||||||
| Income taxes (benefit) | 1,873 | 23,300 | |||||||
| Net income | $ | 2,927 | $ | 34,643 | |||||