-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, IxccIBHAYQ1ihg7RQPjcAGjh8cbO+NlNWFGnZR1UwKFI/JHgc7gL7Jq694Osyuz5 cQtQKxzri51AgAFgujKvxA== 0000950129-05-007660.txt : 20050804 0000950129-05-007660.hdr.sgml : 20050804 20050804140937 ACCESSION NUMBER: 0000950129-05-007660 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20050804 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20050804 DATE AS OF CHANGE: 20050804 FILER: COMPANY DATA: COMPANY CONFORMED NAME: STATER BROS HOLDINGS INC CENTRAL INDEX KEY: 0000882829 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-GROCERY STORES [5411] IRS NUMBER: 330350671 STATE OF INCORPORATION: DE FISCAL YEAR END: 0926 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-13222 FILM NUMBER: 05998830 BUSINESS ADDRESS: STREET 1: 21700 BARTON RD CITY: COLTON STATE: CA ZIP: 92324 BUSINESS PHONE: 9097835000 MAIL ADDRESS: STREET 1: 21700 BARTON ROAD CITY: COLTON STATE: CA ZIP: 92324 8-K 1 a11401e8vk.htm STATER BROS. HOLDINGS, INC. e8vk
Table of Contents

 
 
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 

FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of Earliest Event Reported): August 4, 2005
 
STATER BROS. HOLDINGS INC.
(Exact name of registrant as specified in its charter)
Commission file number 001-13222
     
Delaware
(State or other jurisdiction of
incorporation)
  33-0350671
(I.R.S. Employer
Identification No.)
     
21700 Barton Road
Colton, California
  92324
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (909) 783-5000
N/A
(Former name or former address if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

o   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
o   Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
o   Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
o   Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 
 
 

 


TABLE OF CONTENTS

Item 7.01 Regulation FD Disclosure
Item 9.01 Financial Statements and Exhibits
Signatures
EXHIBIT INDEX
Exhibit 99.1


Table of Contents

Item 7.01 Regulation FD Disclosure
On August 2, 2005, Stater Bros. Holdings Inc. issued a press release entitled “Stater Bros. Holdings Announces Third Quarter Results”. A copy of this press release is attached hereto and incorporated by reference as exhibit 99.1. The information contained in this 8-K document, including the exhibit furnished herewith, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise incorporated by reference in any filing pursuant to the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended, except as shall be expressly set forth by specific reference in such a filing. The furnishing of the information in this report, including the exhibit furnished herewith, is not intended to, and does not, constitute a determination or admission as to the materiality or completeness of such information.
Item 9.01 Financial Statements and Exhibits
The following material is being furnished as exhibits to this Current Report on Form 8-K.
(c) Exhibits
             
 
    99.1     Text of press release, dated August 2, 2005, entitled “Stater Bros. Holdings Announces Third Quarter Results”.
Signatures
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
         
  Stater Bros. Holdings Inc.
 
 
Date: August 4, 2005  By:   /s/ Phillip J. Smith    
    Phillip J. Smith   
    Senior Vice President and
Chief Financial Officer 
 
 

 


Table of Contents

EXHIBIT INDEX
     
Exhibit    
No.   Description
Exhibit 99.1
  Text of press release, dated August 2, 2005, entitled “Stater Bros. Holdings Announces Third Quarter Results”.

 

EX-99.1 2 a11401exv99w1.htm EXHIBIT 99.1 exv99w1
 

         
(STATER BROS. LOGO)
  21700 Barton Road
P.O. Box 150
Colton, California 92324
  Exhibit 99.1
Contact:
Phil Smith
Stater Bros. Holdings Inc.
(909)783-5287
P R E S S  R E L E A S E
For Immediate Release
Tuesday, August 2, 2005
STATER BROS. HOLDINGS ANNOUNCES THIRD QUARTER RESULTS
Colton, California. August 2, 2005; Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced financial results for the thirteen week third quarter and thirty-nine week year-to-date period ended on June 26, 2005.
The results for the prior year third quarter and thirty-nine weeks were affected by the unprecedented Southern California Supermarket Industry labor dispute which had a significant impact on the Company’s results during fiscal 2004. The third quarter of 2004 was also affected by the Company’s refinancing activity.
Sales for the thirteen week third quarter ended June 26, 2005, compared to the third quarter 2004 decreased 0.89% to $840.4 million compared to $848.0 million for the thirteen weeks ended June 27, 2004. The decrease was primarily due to higher post labor dispute volume in the third quarter of fiscal 2004 and the Easter Holiday occurring during the third quarter of fiscal 2004 and in the second quarter of fiscal 2005. Total sales for the thirty-nine weeks ended June 26, 2005, decreased 11.93% and amounted to $2.522 billion compared to $2.864 billion for the same period in the fiscal 2004 which was affected by the labor dispute. Like store sales for the thirteen week period ended June 26, 2005, after the effect of the timing of Easter Holiday, decreased 1.9% over the same period in the prior year. Like store sales for the thirty-nine week period ended June 26, 2005 declined 15.2% as compared to results during last year’s prolonged labor dispute.
The Company reported net income for the thirteen week third quarter ended June 26, 2005 of $7.3 million compared to a loss of $5.9 million for the thirteen weeks ended June 27, 2004. Net income for the fiscal year-to-date periods amounted to $14.1 million in 2005 and $58.9 million in 2004 which was affected by the labor dispute. The year-to-date results for 2004 include a $13.3 million after tax gain from litigation settlement. The settlement transferred the remaining 50% ownership interest in Santee Dairies, Inc. to the Company. Santee’s results have been consolidated in the Company’s results since the settlement date of February 6, 2004.
Brown said; “It remains difficult to compare any major category on our Operating Statements between Fiscal 2004 and Fiscal 2005 due to the effects of the unprecedented labor dispute in Fiscal 2004, which affected all of the Southern California Supermarket Industry. During the quarter we began to see a more normalized market place. All of our “Valued Customers” have our commitment that we will provide a friendly and satisfying shopping experience on each and every one of their visits to our stores.”
Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in California and operates 161 supermarkets through its wholly owned subsidiary, Stater Bros. Markets. Stater Bros. Markets also owns and operates Santee Dairies, provider of Knudsen Dairy products to Southern California.
For information contact: Jack H. Brown, Chairman, President and Chief Executive Officer at (909) 783-5000.
STATER BROS. MARKETS...SERVING SOUTHERN CALIFORNIA FOR 69 GOLDEN YEARS
# # #


 

STATER BROS. HOLDINGS INC.
Condensed Consolidated Statements of Operations
(In thousands)
Unaudited
                                 
    13 Weeks Ended     39 Weeks Ended  
    06/27/04     06/26/05     06/27/04     06/26/05  
    (as restated)     (as restated)          
Sales
  $ 847,984     $ 840,430     $ 2,863,955     $ 2,522,347  
 
                               
Gross profit
    224,723       231,595       825,944       666,846  
 
                               
Operating expenses
                               
Selling, general and administrative expenses
    188,323       196,380       631,018       574,876  
Depreciation and amortization
    8,339       10,090       23,921       29,187  
 
                       
 
                               
Total operating expenses
    196,662       206,470       654,939       604,063  
 
                       
 
                               
Operating profit
    28,061       25,125       171,005       62,783  
 
                               
Interest income
    157       1,864       1,005       4,525  
Interest expense
    (13,103 )     (14,530 )     (39,416 )     (43,204 )
Interest expense related to debt purchase
    (25,495 )           (34,017 )      
Equity in earnings from unconsolidated affiliate
                929        
Other expenses — net
    (308 )     (282 )     (1,017 )     (581 )
 
                       
 
                               
Income (loss) before income taxes (benefit)
    (10,688 )     12,177       98,489       23,523  
 
                               
Income taxes (benefit)
    (4,826 )     4,901       39,614       9,384  
 
                       
 
                               
Net income (loss)
  $ (5,862 )   $ 7,276     $ 58,875     $ 14,139  
 
                       
 
                       


 

STATER BROS. HOLDINGS INC.
Condensed Consolidated Balance Sheets
(In thousands)
Unaudited
                 
    9/26/04     06/26/05  
Assets
               
Current assets
               
Cash
  $ 301,947     $ 253,501  
Restricted cash
    20,000       29,000  
Receivables
    39,258       37,015  
Inventories
    185,567       188,522  
Other
    34,263       32,591  
 
           
 
               
Total current assets
    581,035       540,629  
 
               
Property and equipment, net
    404,856       448,065  
 
               
Deferred debt issuance costs, net
    21,891       19,766  
Other assets
    6,339       11,087  
 
           
 
               
Total assets
  $ 1,014,121     $ 1,019,547  
 
           
 
           
 
               
Liabilities and stockholder’s deficit
               
Current liabilities
               
Accounts payable
  $ 142,077     $ 136,839  
Accrued expenses and other liabilities
    117,856       107,359  
Current portion of capital lease obligations
    1,247       1,165  
 
           
 
                               
Total current liabilities
    261,180       245,363  
 
               
Long-term debt
    700,000       700,000  
Capital lease obligations, less current portion
    9,470       8,592  
Other long-term liabilities
    83,112       91,094  
 
               
Total stockholder’s deficit
    (39,641 )     (25,502 )
 
           
 
               
Total liabilities and stockholder’s deficit
  $ 1,014,121     $ 1,019,547  
 
           
 
           

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