Californian supermarket chain Stater Bros. Holdings has posted sales up 5.1% to US$672.8m for its Q3 ended 30 June 2002, from US$639.9m year on year.

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Chairman, president and CEO Jack H. Brown said that total sales for the 39-week year to date period were up 6% year on year to US$1.99bn. Like store sales increased 4.6% and 5.8% for the Q3 and 39-week periods ended 30 June 2002, respectively.


EBITDA amounted to US$26.4m in the Q3 2002 and compares to US$23.9m for the like period of last year. EBITDA for the 39-week comparable periods were US$81.5m in FY 2002 and US$68.9m in FY 2001.


The 156-outlet strong company reported Q3 net income of US$2.9m compared to US$2.3m for the Q3 2001. Net income for the year to date periods amounted to US$11.1m in 2002 and US$5.5m in 2001.


Brown said: “These results reflect the continued improvement over the prior year’s performance.”

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Condensed Results of Operations


(In US$000s) Unaudited
                                 13 Weeks Ended           39 Weeks Ended
                               06/30/02   06/24/01    06/30/02    06/24/01
    Sales                      $672,779   $639,925   $1,989,579  $1,877,079


    Gross profits               177,142    166,119      526,118     479,681



    Operating Expenses:
      Selling, general and
       administrative
       expenses                 151,459    142,986      447,052     414,528
      Depreciation and
       amortization               7,976      7,194       23,160      21,102
    Total operating expenses    159,435    150,180      470,212     435,630



    Operating profit             17,707     15,939       55,906      44,051



    Interest income                 319        693        1,345       2,597
    Interest expense            (13,444)   (12,847)     (39,441)    (38,506)
    Equity in earnings from
     unconsolidated affiliate       532        215        2,555       1,173
    Other, net                     (179)      (154)      (1,488)        (75)



    Income before income taxes    4,935      3,846       18,877       9,240



    Income taxes                  2,024      1,577        7,740       3,789



    Net income                   $2,911     $2,269      $11,137      $5,451