Economy hits Stater Bros.' fiscal-year results

SAN BERNARDINO, Calif. — Stater Bros. on Wednesday disclosed a more than 4% decrease in sales for fiscal year 2010.

The California supermarket chain said sales for the fiscal year ended Sept. 26 were $3.61 billion, down from $3.77 billion in fiscal year 2009. Sales for the fourth quarter also experienced a decline, dropping to $897.4 million, down 3.15% over the year-ago period.

Net income for Stater Bros. totaled $24.6 million for the 2010 fiscal year, compared with $34.8 million in the 2009 fiscal year. Net income for the fourth quarter of fiscal 2010 was $5.9 million, versus $5 million in fiscal 2009.

Stater Bros. leader Jack Brown said that while the chain is facing tough economic and competitive pressures, the retailer is "committed to controlling costs as [we] weather the effect of these economic times."

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