COLTON, Calif. -- Stater Bros. Holdings here, which operates 110 Stater Bros. Markets, said last week the timing of Easter resulted in a drop in sales and same-store sales for the third quarter ended June 29, while comparable figures for the 39 weeks were up.
ose 2.4% for the 39 weeks to $12.6 million.
Net income in the 39 weeks of 1996 was increased by $2.3 million (after taxes) from a one-time nonrecurring reduction in operating expenses, the company said.
The company said third-quarter sales were negatively affected by the timing of the Easter holiday, which fell in last year's third quarter and this year's second quarter; it also said sales for the quarter were affected positively by the closure of 15 Smith's Food & Drug Centers that competed directly with Stater Bros.
After adjusting for those factors, the company said same-store sales would have been up approximately 1% for the quarter.
