Stater Bros. reports Q2
SAN BERNARDINO, Calif. — Second-quarter consolidated sales for regional supermarket chain Stater Bros. were up more than 3%, the company said.
Sales totaled $913.4 million for the period ended March 27, an increase of $27.9 million or 3.15%, compared with the year-ago period. Similarly, same-store sales also increased 3.15% or $27.9 million.
Stater Bros. also reported net income for the 13-week second quarter of $8.8 million, compared with net income of $6 million for second quarter 2010.
The retailer also reported that customer count increased to nearly 1 million people.
"These results are due to the dedication of the Stater Bros. ‘family’ and the loyalty of our customers, many of those whom we have served for over three generations," Stater Bros. chairman, president and CEO Jack Brown said.
Drugstore.com announces expiration of HSR waiting period for WAG deal
BELLEVUE, Wash. — Drugstore.com on Tuesday announced the expiration of the waiting period under the U.S. Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, with respect to the proposed merger by which the company would be acquired by Walgreens in a cash transaction.
The deal previously was announced on March 24.
Accordingly, the merger’s closing condition with respect to the expiration or termination of the waiting period under the HSR Act has been satisfied. Completion of the merger remains subject to satisfaction or waiver of certain other conditions, including approval by the stockholders of Drugstore.com.
The parties continue to expect the transaction to close in June 2011.
Report: Kmart parent company considers HQ move
HOFFMAN ESTATES, Ill. — The parent company of Kmart is considering taking its headquarters out of Illinois, according to published reports.
Sears Holdings reportedly is looking to call another place home, with such states as Ohio, North Carolina, South Carolina, Texas, Georgia and New Jersey being considered, the Chicago Tribune and other media outlets have reported. The reason behind the possible move could be because state and local tax incentives for the company, which currently is based in the Chicago suburb of Hoffman Estates, will expire in 2012, the reports noted.
Sears Holdings formed in 2004, following a merger between mass merchandiser Kmart and namesake Sears.