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SpartanNash Company (Nasdaq: SPTN) is a distinguished food solutions company, known for delivering top-quality products across the United States. With a history spanning over 125 years, SpartanNash has grown into a Fortune 500 entity, boasting more than $7.9 billion in revenue and a workforce exceeding 16,000 associates. The company operates through two main segments: retail and wholesale.
In the Wholesale segment, SpartanNash is the second-largest publicly traded food distributor in the U.S., serving 172 military commissaries and over 400 military exchanges. Their extensive network includes 21 wholesale distribution centers across 44 states, ensuring an efficient supply chain that caters to independent retailers, national accounts, and e-commerce platforms. The company's product distribution covers a wide range of categories, including grocery, fresh produce, health and beauty, and general merchandise, with a strong focus on its private label brand, Our Family.
SpartanNash's Retail segment is equally robust, with 159 supermarkets, 34 fuel centers, and partnerships with 2,100 independent grocers. Operating under banners such as Family Fare, Martin's Super Markets, and D&W Fresh Market, SpartanNash provides a comprehensive shopping experience that includes pharmacies and fuel centers. The company is dedicated to enhancing customer satisfaction by investing in technology and innovation, as evidenced by the recent expansion of Simbe's autonomous inventory robot, Tally, across more stores.
Recent achievements and current projects reflect SpartanNash's commitment to growth and sustainability. In 2023, the company launched the ReposiTrak Traceability Network to boost supply chain transparency and safety. Additionally, SpartanNash has introduced a new private label brand, Finest Reserve by Our Family, offering a premium range of artisan-crafted foods.
Financially, SpartanNash continues to demonstrate resilience and progress. Despite a challenging market environment, the company reported net earnings of $11.1 million for the third quarter of 2023, alongside strategic initiatives aimed at capturing additional market share and driving sustainable shareholder value. The company's strong balance sheet, strategic investments, and focus on operational excellence position it well for future growth and innovation.
SpartanNash's dedication to community and education is evident in initiatives like the Our Family 2023 Scholarship Program, which supports students making a positive impact in their communities. By fostering a 'People First' culture and continuously evolving their offerings, SpartanNash remains a pivotal player in the food distribution and retail sectors.
SpartanNash Foundation achieved record-breaking donations of $565,000 during its eighth annual in-store fundraiser supporting food pantries across the Midwest. The campaign, running from Oct. 25 to Nov. 27, collected nearly $480,000 from store guests and Associates at SpartanNash-operated retail stores, with the Foundation adding $85,000 for pantries near distribution centers.
The total donation will provide approximately 204,000 meals for families across nine Midwest states. Store guests contributed through both in-store and online checkout donations. Since 2015, the Foundation's annual fundraisers have raised over $2.89 million, providing more than one million meals for communities served by SpartanNash.
SpartanNash (SPTN) has awarded its 2024 Our Family® Scholarship to 25 students, each receiving $2,500 for their outstanding community service contributions. The third annual program, setting a new record for recipients, supports undergraduate, graduate, and vocational students who demonstrate exceptional dedication to community service.
Recipients were selected based on their efforts to create better places to live, play, and grow. The scholarship funds can be applied to various forms of higher education, including universities, trade schools, and other post-secondary programs. Notable winners include students who coordinated blood drives, led international development projects, supported military families, and contributed to healthcare initiatives.
SpartanNash (Nasdaq: SPTN) announced that its Board of Directors has approved a quarterly cash dividend of $0.2175 per common share. The dividend will be distributed on December 30, 2024, to shareholders recorded as of December 9, 2024. The company reported 33,754,787 outstanding common shares as of November 19, 2024.
SpartanNash (Nasdaq: SPTN) announced its third quarter fiscal 2024 results, reporting net sales of $2.25 billion, a 0.6% decrease compared to the prior year. The Wholesale segment saw a 1.6% decline in net sales to $1.58 billion due to reduced case volumes, while the Retail segment experienced a 1.9% increase to $674.6 million, supported by acquisitions. Net earnings remained at $0.32 per diluted share. Adjusted EPS was $0.48, down from $0.54. Adjusted EBITDA was $60.5 million, slightly down from $60.9 million. Cash from operations rose by 28.8% to $123.3 million. SpartanNash updated its fiscal 2024 guidance, maintaining net sales between $9.5 billion and $9.7 billion, but lowering adjusted EBITDA to $252-$257 million and adjusted EPS to $1.85-$1.95. The company anticipates low-single-digit topline growth and mid-single-digit adjusted EBITDA growth for fiscal 2025.
SpartanNash (Nasdaq: SPTN) has appointed Djouma Barry as Senior Vice President and Chief Retail Officer, replacing Thomas Swanson who will transition to a consulting role by year-end. Barry joins from Kroger, where he served as Vice President of Retail Operations. His extensive retail experience includes leadership roles at Target, where he oversaw 1,900 stores and $93 billion in sales, as well as positions at Old Navy and Lululemon. In his new role, Barry will be responsible for retail strategy and operations across SpartanNash's retail footprint, leading over 12,000 retail Associates.
SpartanNash (Nasdaq: SPTN) and its Foundation announced a $130,000 donation to Junior Achievement (JA) following their second annual back-to-school fundraiser. The campaign, conducted across various store brands including Family Fare, Martin's Super Markets, and D&W Fresh Market, collected donations through in-store and online contributions. The funds will support JA's programs focusing on financial literacy, work readiness, and entrepreneurship education for young people. The initiative extends the existing partnership between SpartanNash and JA, which includes an experiential activation at JA Finance Park® teaching students about grocery industry careers.
SpartanNash (SPTN) has announced its second acquisition this month, signing an Asset Purchase Agreement with Markham Enterprises, which includes three convenience stores and fuel centers in mid-Michigan. The acquisition, expected to close in December, will retain all 42 Markham team members. This follows SpartanNash's recent acquisition of Fresh Encounter Inc. The deal aligns with the company's strategy to expand its fuel center and convenience store footprint, while leveraging insights to innovate across its wholesale business. Financial terms were not disclosed.
SpartanNash (SPTN) has launched its eighth annual fundraiser to support local food pantries across nine Midwest states. The campaign, running through Nov. 3, aims to raise $300,000, with all donations staying in local communities. Store guests can donate at checkout in SpartanNash-operated stores or online. In 2023, the company and its guests raised over $300,000, contributing to a total of more than $2 million raised since the fundraiser's inception. The initiative comes as food insecurity affects over 13% of U.S. households in 2023, according to USDA data.
SpartanNash (SPTN) has scheduled its third quarter 2024 financial results announcement for Thursday, Nov. 7, 2024, before market open. The results will cover the 12-week period ended Oct. 5, 2024. The company will host a conference call and simultaneous webcast at 8:30 a.m. ET on the same day to discuss the quarterly results. The webcast will be available on spartannash.com/webcasts under 'Investor Relations' and will remain accessible through Nov. 21, 2024. A supplemental earnings presentation will also be available on the company's website.
SpartanNash (Nasdaq: SPTN) has announced the acquisition of Fresh Encounter Inc. (FEI), a 49-store supermarket chain operating in Ohio, Indiana, and Kentucky. This acquisition expands SpartanNash's retail footprint by 33% and marks the company's second retail acquisition in 2024. FEI, a long-time SpartanNash customer for 58 years, will bring 2,500 new team members to the SpartanNash family.
The deal aligns with SpartanNash's strategic growth plans and is expected to contribute to the company's 2025 long-term goals. FEI operates under various retail banners including Community Markets, Remke Markets, Chief Markets, and Needler's Fresh Market. The transaction is set to close in late November, subject to customary conditions. Financial terms were not disclosed.
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