Stater Bros. Reports Sales Increases
Colton, Calif., Stater Bros. Holdings Inc. announced sales increased $45.5 million or 5.4% in the third quarter of its fiscal year, which ended June 25. Year-to-date sales were up $94.2 million or 3.7% over fiscal 2005 and totaled $2.62 billion compared to $2.52 billion for the same period in fiscal 2005. However, net income declined in the third quarter, from $7.3 million in 2005 to $5.7 million this year. Net income for the fiscal year-to-date periods amounted to $15.3 million in 2006 and $14.1 million in 2005.
Stater Bros. is the largest privately held supermarket chain in Southern California and operates 162 supermarkets.
Jo-Ann Debuts Branded MasterCard
Wilmington, Del., Jo-Ann Stores and Barclays Bank Delaware, formerly known as Juniper Bank, have teamed up to offer a new co-branded Platinum MasterCard. The Jo-Ann Platinum MasterCard will allow customers to earn up to 5% of their purchases toward “creative cash” every time they use their card. Customers also will be enrolled in Jo-Ann’s Preferred Customer program to receive coupons and sale notifications.
Barclays has more than 40 existing card partnerships including Barnes & Noble and Travelocity.
Target “Pops Up” in LA
Los Angeles, Target Corp. has opened a temporary “pop-up” store on Los Angeles’ trendy Melrose Avenue. The all-white space, open until Aug. 31, is designed to celebrate the launch of Paul & Joe. It is the latest of Target’s limited-edition GO International women’s fashion collections. Paul & Joe is a French brand known for its vintage-like wallpaper prints and whimsical animal motifs.