SpartanNash Company - SPTN STOCK NEWS

SpartanNash (Nasdaq: SPTN) has appointed Jean-Paul "JP" Calabio as the new Vice President and Chief Information Security Officer, effective June 20. Calabio is responsible for leading the company's information security strategy, ensuring compliance, and enhancing security measures. He previously formalized incident response processes and improved vendor risk management while at SpartanNash. With over 20 years of experience in information security and leadership roles at various companies, Calabio is poised to further strengthen the company's security posture in a data-sensitive industry.

SpartanNash (Nasdaq: SPTN) proudly announces that eight of its Associates have been recognized in Progressive Grocer’s 2022 Top Women in Grocery awards. Since 2012, 90 SpartanNash associates have received this prestigious honor, highlighting the vital role women play in the food retail industry. The honorees include Store Managers and Rising Stars who have demonstrated exceptional leadership and performance, such as achieving sales 5.9% over budget and saving the company $84,000 annually through effective contract negotiations.

SpartanNash has acquired the three-store Shop-N-Save Food Centers in northwestern Michigan. The acquisition, which converts the stores to the Family Fare brand, aims to enhance offerings while ensuring all employees retain their jobs. This move expands SpartanNash’s Family Fare presence to 86 stores in the Midwest. The acquisition comes after a long-standing relationship, as Shop-N-Save has been a customer of SpartanNash for nearly 25 years.

SpartanNash (NASDAQ: SPTN) announced the preliminary results of its 2022 Annual Meeting of Shareholders, revealing strong support for its independent Board of Directors nominees. All nine nominees were re-elected, signaling shareholder confidence in the Company's strategy and leadership. Shareholders also approved all other proposals submitted at the meeting. SpartanNash expressed gratitude for the support received and pledged to focus on their transformation strategy and People First culture to enhance long-term value for shareholders.

The Investor Group, holding approximately 4.5% of SpartanNash shares, seeks to elect three independent director candidates to enhance board expertise in food distribution and retail. Proxy advisors ISS and Egan-Jones endorse the nominees, including Michael Lewis and John Fleming, emphasizing their industry experience. The Investor Group argues that the current board has overseen poor performance and needs fresh perspectives to drive long-term value creation. They urge shareholders to vote on the BLUE Proxy Card to facilitate this change.

SpartanNash has announced the appointment of Greg Crane as Vice President of Finance for Food Distribution, effective June 6. Crane will partner with the Food Distribution leadership team, overseeing budgeting, forecasting, and performance analysis. His expertise aims to enhance financial operations and reduce company expenses. With over 15 years of experience, including previous roles as CFO of GHSP, Inc. and positions at Wolverine World Wide, Crane holds an MBA from the University of Michigan. This addition supports SpartanNash's mission to deliver essential food solutions.

SpartanNash announced its first-quarter results for fiscal 2022, reporting net sales of $2.76 billion, up 4.0% from last year. Net earnings were $19.3 million, slightly down from $19.5 million. Adjusted EBITDA reached a record $76.6 million, a substantial 18.2% increase year-over-year. The company reaffirmed its fiscal 2022 guidance, raising expected net sales to between $9.0 billion and $9.3 billion. SpartanNash also updated long-term targets, aiming for over $10 billion in net sales by 2025.

SpartanNash (Nasdaq: SPTN) announced a quarterly cash dividend of $0.21 per common share, approved by its Board of Directors on May 25, 2022. The dividend is set for payment on June 30, 2022, to shareholders on record as of June 15, 2022. The company reported 36,126,354 common shares outstanding as of May 26, 2022. SpartanNash's capital allocation strategy aims for a balanced approach, including annual dividend increases and share repurchases, supporting their growth framework, Our Winning Recipe™.

SpartanNash urges shareholders to vote for its director nominees on the WHITE proxy card ahead of the June 9, 2022 Annual Meeting. The company highlights strong financial performance, with Q1 2022 net sales projected between $2.74B and $2.77B, and a raised outlook for the full year, including net sales guidance of $9.0B to $9.3B. The Board emphasizes its expertise and successful transformation since 2019, achieving a 251% total shareholder return. They oppose activist investors Macellum and Ancora’s efforts to replace directors, claiming it could jeopardize ongoing growth initiatives.