Stater Bros. Holdings, parent company of Stater Bros. Markets, San Bernardino, Calif., said Tuesday sales and earnings increased for its second fiscal quarter and first half, which ended March 30.


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Net income for the 13-week quarter rose 65.5% to $19.2 million — partially reflecting its investment in remodels and installation of energy-saving equipment, including doors on all refrigerated cases — while sales increased 0.2% to $963.8 million and like-store sales, excluding a shift in the Easter holiday to this year’s third quarter, climbed 1%.

For the half net income rose 77.7% to $30.2 million, with sales rising 0.9% to $1.95 billion and like-store sales up 1.2%.

Jack Brown, chairman, president and CEO, said the sales growth was due to customers’ positive response to the chain’s low-price marketing strategy.

The company also announced it has refinanced its credit agreement — to reduce its interest expense “significantly,” it explained — and signed a new agreement that replaces its previous revolving line of credit, term loan and senior unsecured notes. According the Stater, the new facility includes a $150-milllion line of credit, a $325-million Term Loan A and a $250-million Term Loan B.

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