The company’s second quarter profit rose 46.6 percent, this even with competitor stores changing their strategy to displaying high-volume groceries. Nationwide, Stater Brothers currently has 167 stores, with 13 of these stores located in Southwest Riverside County and North San Diego County in California. Most of these stores are in competition with Latino-owned stores such as Cardenas Supermarkets, Rio Ranch Markets, Gonzales Northgate Markets and Superior Grocers. Aside from these stores, Stater Brothers is also in competition with Wal-Mart and Target stores which have converted to high-volume grocery stores.
For its second quarter (which ended March 27), Stater Brothers earned a profit of $8.8 million, a significant increase when compared to last year’s $6 million. As for the company’s revenue, the company earned a total of $913.4 million. This revenue has increased by 3.15 percent, as compared to last year’s $885.5 million.
Aside from the increase in its profits, Stater Brothers also announced its plans to take over Albertsons stores in Hesperia and Lake Elsinore. According to the company’s Chief Executive Officer, Jack Brown, they have already completed the purchase of one of these Albertson stores and are expecting to complete the other acquisition by week’s end. Aside from Albertson’s, Brown added that there have been other competitors approaching them for an offer of acquirement. However, Brown said that the company currently has no plans of making additional purchases unless they see a good opportunity for investment.