Stater Bros. annual profit drops on flat sales

Stater Bros. Markets said Thursday its net income for the 52-week fiscal year ended Sept. 27 dropped 14.2% to $34.8 million.

Sales for the year edged up 0.7% to $3.77 billion, from $3.74 billion in the prior year. Sales for the fourth quarter were $947.2 million, compared with $940.2 million for fourth quarter 2008.

Same-store sales for fiscal 2009 and for the fourth quarter were flat.

"Our economy continues to hamper growth," Jack Brown, chairman and CEO, said. "We continue to focus on the values we can pass on to customers so they get the most out of their shopping dollars while providing a friendly and satisfying exerience on each visit. We remain committed to controlling costs as we weather the effect of these economic times."

Stater Bros. is a privately held grocer in Southern California, operating 167 supermarkets.