-----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, MLOxbomD/En4wIR2x3zyyLysmanLMkifk9EbgtT5tIrVrdfLbWnv4k6o6Oul2oLd 7a+fIh0n7YGPos/nXwU+eQ== 0000950150-02-001136.txt : 20021219 0000950150-02-001136.hdr.sgml : 20021219 20021218190646 ACCESSION NUMBER: 0000950150-02-001136 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20021219 ITEM INFORMATION: FILED AS OF DATE: 20021219 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: 02862305 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 a86618e8vk.txt FORM 8-K 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): DECEMBER 19, 2002 ---------------------- STATER BROS. HOLDINGS INC. (Exact name of registrant as specified in its charter) COMMISSION FILE NUMBER 001-13222 DELAWARE 33-0350671 (State or other jurisdiction of (I.R.S. Employer incorporation or organization) Identification No.) 21700 BARTON ROAD 92324 COLTON, CALIFORNIA (Address of principal executive offices) (Zip Code) REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE: (909) 783-5000 ---------------------- ITEM 9. REGULATION FD DISCLOSURE On December 18, 2002, Stater Bros. Holdings Inc. issued a press release announcing fourth quarter and fiscal 2002 sales and net income. A copy of this press release is attached hereto as Exhibit 99.4. 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. /s/ Phillip J. Smith -------------------- By: Phillip J. Smith Senior Vice President and Chief Financial Officer Date: December 19, 2002 EXHIBIT INDEX Exhibit No. Description - ----------- ----------- Exhibit 99.4 Text of press release, dated December 18, 2002, entitled "Stater Bros. Holdings Announces Record Sales". EX-99.4 3 a86618exv99w4.txt EXHIBIT 99.4 [STATER BROS. MARKETS LOGO] EXHIBIT 99.4 21700 BARTON ROAD Contact: P. O. BOX 150 Phil Smith COLTON, CALIFORNIA 92324 Stater Bros. Holdings Inc. (909) 783-5287 P R E S S R E L E A S E FOR IMMEDIATE RELEASE WEDNESDAY, DECEMBER 18, 2002 STATER BROS. HOLDINGS ANNOUNCES RECORD SALES Colton, California. December 18, 2002: Today, Jack H. Brown, Chairman, President and Chief Executive Officer of Stater Bros. Holdings Inc. announced record sales for the fifty-two week fiscal year ended September 29, 2002. The Company set a sales record for the fifty-two week 2002 fiscal year. Sales for fiscal 2002 were $2.666 billion, an increase of 3.6% when compared to sales of $2.574 billion for the fifty-three week 2001 fiscal year and sales increased 5.6% after converting fiscal 2001 to a comparable fifty-two week year. Sales for the thirteen-week fourth quarter ended September 29, 2002 (fiscal 2002) were $676.8 million, a decrease of 2.9% when compared to $696.8 million for the fourteen-week fourth quarter ended September 30, 2001 (fiscal 2001). Sales for the fourth quarter of 2002 on a thirteen-week comparable basis increased 4.6%. In fiscal 2002, like store sales increase 5.3% over fiscal 2001, this comparison converts fiscal 2001 from a fifty-three week period to a fifty-two week period. For the fourth quarter of 2002, like stores sales increased 4.0% over fourth quarter 2001, this comparison converts the fourth quarter of fiscal 2001 from a fourteen-week period to a thirteen-week period. Operating cash flow (EBITDA) is defined as earnings before extraordinary gain or loss, interest expense, income taxes, depreciation and amortization. EBITDA amounted to $22.1 million and $103.6 million for the fourth quarter and year to date periods in fiscal 2002 compared to $25.9 million and $94.8 million for the like periods of fiscal 2001. The Company reported a net income of $11.8 million for the fiscal year 2002 compared to $7.8 in fiscal year 2001. The results for the fourth quarters of 2002 and 2001 were net income of $652,000 and $2.4 million, respectively. Brown said, "The results of the fourth quarter were adversely affected by increases in contributions to union pension, health and welfare plans and substantial increases in summer utility rates. We were pleased with the fiscal year results and our people are committed to gain back the momentum we had achieved in EBITDA and net income performance. We have the right plan and personnel in place to regain this momentum. We have been able to protect our sales base by focusing our efforts to serve our "Valued Customers" one at a time." Stater Bros. Holdings Inc. is the largest privately held Supermarket Chain in Southern California and operates 156 supermarkets through its wholly-owned subsidiary, Stater Bros. Markets. For information contact: Jack H. Brown, Chairman, President and Chief Executive Officer at (909) 783-5000. Stater Bros. Markets operates 156 Supermarket locations, with 47 in San Bernardino County, 40 in Riverside County, 30 in Orange County, 27 in Los Angeles County, 10 in Northern San Diego County, and 2 in Kern County. There are over 14,000 members of the Stater Bros. "Family" of Employees. Stater Bros. is the largest private employer in the Inland Empire of Southern California, which is one of the fastest growing areas in the United States. Headquartered in Colton, California, Stater Bros. has been serving Southern California customers since 1936. In the spring of 2003, Stater Bros. will open its 157th Supermarket in Corona, California. STATER BROS. MARKETS...SERVING SOUTHERN CALIFORNIA FOR 66 GOLDEN YEARS # # # STATER BROS. HOLDINGS INC. CONDENSED BALANCE SHEETS (IN THOUSANDS) UNAUDITED
09/29/02 9/30/01 ---------- --------- Assets Current Assets Cash $ 81,043 $ 101,636 Receivables 33,561 30,252 Inventories 175,404 170,189 Other 26,958 17,217 --------- --------- Total current assets 316,966 319,294 Investment in unconsolidated affiliate 15,580 12,666 Property, plant, & equipment, net 281,999 274,487 Deferred debt issuance costs, net 13,936 12,042 Other 5,649 10,805 --------- --------- Total Assets $ 634,130 $ 629,294 ========= ========= Liabilities and Stockholders' Deficit Current Liabilities Accounts payable $ 104,166 $ 107,485 Accrued expenses and other liabilities 88,223 86,077 Current portion of capital lease obligations and long-term debt 1,117 1,435 --------- --------- Total current liabilities 193,506 194,997 Long-term debt, less current portion 458,750 439,000 Capital lease obligations, less current portion 10,981 12,098 Other long-term liabilities 45,014 24,608 Common stockholders' deficit (74,121) (41,409) --------- --------- Total Liabilities and Stockholders' Deficit $ 634,130 $ 629,294 ========= =========
STATER BROS. HOLDINGS INC. CONDENSED RESULTS OF OPERATIONS (IN THOUSANDS) UNAUDITED
13 Weeks 14 Weeks 52 Weeks 53 Weeks Ended Ended Ended Ended 09/29/02 09/30/01 09/29/02 09/30/01 ---------- ---------- ------------ ------------ Sales $ 676,767 $ 696,834 $ 2,666,346 $ 2,573,913 Gross profits 182,702 183,167 708,820 662,848 Operating Expenses: Selling, general and administrative expenses 161,237 158,287 608,289 572,815 Depreciation and amortization 8,333 7,959 31,493 29,061 --------- --------- ----------- ----------- Total operating expenses 169,570 166,246 639,782 601,876 --------- --------- ----------- ----------- Operating profit 13,132 16,921 69,038 60,972 Interest income 376 812 1,721 3,409 Interest expense (13,373) (13,904) (52,814) (52,410) Equity in earnings from unconsolidated affiliate 359 411 2,914 1,584 Other expenses, net (91) (183) (1,579) (258) --------- --------- ----------- ----------- Income before income taxes (benefit) 403 4,057 19,280 13,297 Income taxes (benefit) (249) 1,663 7,491 5,452 --------- --------- ----------- ----------- Net income $ 652 $ 2,394 $ 11,789 $ 7,845 ========= ========= =========== ===========
-----END PRIVACY-ENHANCED MESSAGE-----