Stater Sees ‘Almost No Impact’ From Tesco

Dec 20, 2007 6:00 AM


         Subscribe in NewsGator Online   Subscribe in Bloglines

SAN BERNARDINO, Calif. — Although it already competes with 20 Fresh & Easy locations, Stater Bros. Holdings here has felt minimal impact from its new competitor, Jack Brown, Stater’s chairman and chief executive officer, said Wednesday. “We have felt almost no impact — maybe $1,000 a week, and that’s giving them the benefit of the doubt,” Brown said in a conference call reviewing annual earnings. Brown said his observations of Fresh & Easy indicated the Tesco-owned chain was targeting shoppers whose “frame of mind,” differed from that of Stater shoppers. Stater reported sales of $3.7 billion for the 53-week fiscal year ending Sept. 30, an increase of 4.7% over fiscal 2006, or 2.9% excluding the extra week. Adjusted same-store sales improved by 1.7% for the year. Net income for the year improved to $49.4 million, an increase of 89.3%. For the 14-week fourth quarter, Stater said sales improved 11.5% to $993.8 million, as compared to the 13-week quarter in fiscal 2006. Adjusted for the extra week, quarterly sales increased 4.2% and same-store sales improved 2.2%.

Read More of Today's Headlines

Want to use this article? Click here for options!
© 2010 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

Subscribe / Renew to Supermarket News

Supermarket News

The most reliable source of industry news and insight...in print and online.

 

 

Most Viewed News

Read More News


Refresh: A Whole Health Blog

Bob Vosburgh

Bob Vosburgh:

Read More Refresh

SN Videos

Food Safety Challenges and Solutions

Supervalu’s Dr. John Hanlin addresses food safety issues in local sourcing, sanitation and cold chain.

Insights From SN’s Marketer of the Year

Jon Wendel, senior vice-president of Marketing, Hy-Vee, discusses the role that Marketing plays at his company.

Misconceptions About Hispanic Shoppers

Sidney Hopper, COO of United Supermarkets’ Amigos banner, clarifies some misunderstandings about Hispanic shoppers.

View All




Related Penton Sites



Plan a food industry meeting with MeetingsNet.

Subscribe to SN

Latest Cover

IRI Times & Trends

2009 CPG Year in Review: A Market Redefined by Personalized Shopping. IRI's Times & Trends highlights new developments and critical events across all major CPG categories and channels, providing powerful benchmarking data to help guide your strategic decisions. The February 2010 issue of Times & Trends explores economic, channel, department and category performance over the past year.

View All IRI Reports

Upcoming Events

March 22-24, 2010
2010 IRI Reinventing CPG and Retail Summit
Information Resources Inc.
JW Marriott San Antonio Hill Country
312.726.1221

March 25-27, 2010
Global Pet Expo
American Pet Products Association and Pet Industry Distributors Association
Orange County Convention Center
Orlando, Fla.
203.532.0000 or 443.640.1060
pida@ksgroup.org

View All Upcoming Events

Subscribe to SN

More Premium Content

newsletter image

SN Free Daily Update

The food trade’s leading daily news service. Register Here

Home Use

Home Use

Value, convenience and product uniqueness are familiar criteria for supermarket buyers scanning the exhibit floor for new products...

Ready to Go

Ready to Go

Twice-a-week fish fries and roasted, three-legged chickens get some of the credit for keeping prepared-food sales up at Dash's Market in Buffalo, N.Y.

In the Soup

In the Soup

As a shopper enters the condensed soup segment of a grocery store, her internal clock begins to tick.

Subscribe to Premium Content Today!

Subscribe to Premium Content Today!

Corporate Finance

Read in-depth coverage of quarterly reports.

Marketing Trends

New promotions, new pricing, new products.

Subscribe to Premium Content