SpartanNash to Highlight Produce Departments; Announces Q2 2016 Financials

SpartanNash to Highlight Produce Departments; Announces Q2 2016 Financials

GRAND RAPIDS, MI - In coordination with a positive Q2 2016 financial report, retailer SpartanNash has revealed a few new notes on the company’s growing produce offerings. After recently unveiling new produce-centric remodels in several stores, President and Chief Executive Officer, Dennis Eidson, says the company is looking to further expand both organics and produce.

Dennis Eidson, President & CEO, SpartanNash

“We will continue to implement our initiatives to enhance our merchandising, pricing and promotional strategies, including expanding our organic and private brand product offerings, improving our produce offering, and driving greater customer engagement through our loyalty program,” Eidson revealed in the newly announced Q2 report. The company head also noted that SpartanNash will be rolling out Open Acres™, a private brand for fresh products.

Open Acres

The hope for the brand is to provide savings for fresh consumers in both company-owned and independent stores, Eidson says.

On the recent remodels, Eidson continued, “Additionally, we recently completed eight remodels and re-banners to Family Fare in Omaha, Nebraska, improving our offering to the customer while highlighting our variety and value, especially as it relates to produce and private brand, and have been encouraged by the initial customer response.” 

In addition to recently consolidating its Statesboro, Georgia, warehouse facility and “continuing to look for ways to optimize the supply chain,” Eidson says the company is proactively pursuing financially and strategically attractive acquisition opportunities.

A SpartanNash-ran Produce Department

Other highlights SpartanNash notes in its Q2 financial report are as follows:

  • Consolidated Q2 net sales increased to $1.83 billion from $1.80 billion in Q2 2015
  • Operating earnings were $32.6 million compared to $36.8 million in Q2 2015
  • Adjusted operating earnings improved $2.1 million to $39.3 million from $37.2 million in Q2 2015
  • Adjusted EBITDA was $58.7 million, or 3.2 percent of net sales, compared to $58.5 million, or 3.3 percent of net sales in Q2 2015
  • Q2 reported earnings from continuing operations were $17.6 million, or $0.47 per diluted share, compared to $20.3 million, or $0.54 per diluted share, in Q2 2015
  • Q2 adjusted earnings from continuing operations increased to $21.7 million, or $0.58 per diluted share, from $19.8 million, or $0.53 per diluted share, in Q2 2015

How will SpartanNash move to further grow its produce offerings in the quarters to come? Count on AndNowUKnow to follow the story.