SpartanNash Releases its Q3 2015 Report

SpartanNash Releases its Q3 2015 Report

GRAND RAPIDS, MI - Despite a slip in sales, which SpartanNash says continue to be a challenge, the company is reflecting a positive attitude upon the release of its third quarter financial report of the 2015 fiscal year.

Dennis Eidson, President and CEO, SpartanNash"We are pleased with our ability to generate improved third quarter adjusted earnings," Dennis Eidson, SpartanNash's President and Chief Executive Officer, said in the report. "While the sales environment remains more challenging than anticipated, our team continues to strengthen SpartanNash's value proposition as well as the quality and service that we offer customers across our Retail, Food Distribution, and Military segments.”

Overall, third-quarter net income was $15.4 million at $0.41 per share in comparison to $17.1 million, $0.45 per share, at the same time last year. Adjusted earnings for the quarter went up this last quarter, $0.49 per share, from last year’s $0.46 per share.

Financial notes included:

  • Food Distribution net sales down to $762.3 million, while last year’s came in at $764.3 million.
  • Food Distribution operating earnings for the segment increased to $17.0 million from $15.2 million in the same period last year.
  • Retail segment net sales went down from $521.7 million at the same time last year to $507.2 million this year.
  • Retail segment third quarter adjusted operating earnings increased to $13.2 million from $12.9 million in the prior year third quarter.
  • Retail segment operating earnings were down in the third quarter, $9.2 million compared to $14.1 million at this time last quarter.
  • During the third quarter, the SpartanNash completed six major remodels in the Omaha, Nebraska, market.

“During the quarter, we continued to invest in our western store base with the completion of six store remodels and grand re-openings in Omaha and through the initial rollout of our Yes Rewards loyalty program into these remodeled stores. We are encouraged by the initial results at these six stores,” Eidson said. “In addition, we anticipate further benefits from merger integration and improved operational efficiencies through the optimization of our supply chain."

Revenues for the quarter dropped to $1.78 billion from $1.81 billion last year, the majority of which were attributed to lower sales in the Military and Retail segments.

With remodels and re-openings, the company closed out the quarter with 165 corporate owned stores and 29 fuel centers.


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