Stater Bros. earnings fall 18% in latest quarter
The owner of Stater Bros. Markets said Wednesday that its earnings fell 18% to $11.1 million in its second fiscal quarter ended March 29.
Although Stater Bros. Holdings Inc., which owns the 166-store San Bernardino supermarket company, has seen an uptick in customers, they are spending less.
Sales for the period rose a fraction of a percentage point to $931 million from $925 million in the same quarter a year earlier, said Jack Brown, chief executive of Stater Bros. Holdings.
Previously Brown has blamed the decline in the company’s profit on its efforts to limit price increases during the recession. He said the stores continued to experience “very tough economic times.”
Stater Bros. is a private company owned by Brown, but it discloses its financial results because it has publicly traded debt.
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