Stater Swings to Loss Despite Sales Increase
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Stater Bros. Holdings Inc. reported that it swung to a loss in its third quarter despite a 23% rise in sales.
For the quarter ended June 27, the Colton-based supermarket chain posted a loss of $5.8 million, reversing a year-earlier profit of $769,000. Sales rose to $848 million from $688.1 million.
The company attributed much of the loss to $25.5 million in pretax interest expenses from retiring some debt outstanding and from redemption of notes from Santee Dairies.
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