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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 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.
SpartanNash (Nasdaq: SPTN) will release its first quarter 2022 financial results on June 2, 2022, before the market opens. This report covers the 16-week period ending on April 23, 2022. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss the results, which will also be available via a live webcast on the Company's website. SpartanNash operates 145 supermarkets and serves a diverse customer base, including military commissaries and international clients.
Macellum Advisors and Ancora Holdings, owning 4.5% of SpartanNash (SPTN), have released a rebuttal to the company's May 16 presentation. They criticize the incumbent Board of Directors for poor capital allocation, governance, and succession planning. The Investor Group has nominated three independent candidates for election to the Board, emphasizing the need for new leadership to drive shareholder value. They argue that the current directors, who have been in their roles for an average of 19 years, have failed to create value and should be replaced.
SpartanNash reported strong preliminary first-quarter results and raised its fiscal year 2022 outlook, demonstrating ongoing performance momentum. The company’s presentation for the June 9, 2022, Annual Meeting emphasizes its long-term value creation strategy and highlights the Board's recent transformation with new appointments. Key results include a 4.6% net sales growth and a 20.1% increase in adjusted EBITDA from 2019 to 2021. SpartanNash urges shareholders to vote for its director nominees on the WHITE proxy card, asserting that the competing Investor Group's agenda could jeopardize the company's value.
SpartanNash (Nasdaq: SPTN) announced strong preliminary results for its first quarter ended April 23, 2022, with net sales estimated between $2.74 billion and $2.77 billion, compared to $2.66 billion in the prior year. Net earnings are projected at $18.7 million to $19.7 million, slightly lower than $19.5 million in the previous year. The company raised its fiscal 2022 guidance for net sales to $9.0 billion to $9.3 billion and adjusted EBITDA to $224 million to $239 million. Long-term targets include growing net sales to over $10 billion by 2025.
Investor Group is pushing to replace three long-tenured directors at SpartanNash (SPTN) with its own highly qualified candidates, arguing that the current leadership has made poor capital allocation and governance decisions. The Investor Group holds around 4.5% of SpartanNash's common shares and is urging shareholders to support their nominees on the WHITE Proxy Card at the upcoming annual meeting. The presentation highlights the candidates' expertise and the need for change in the boardroom to enhance shareholder value.
SpartanNash (NASDAQ: SPTN) has announced a strategic partnership with DoorDash to enhance its grocery delivery services. This collaboration allows on-demand grocery delivery from over 100 SpartanNash-owned stores, including Family Fare and Martin’s Super Markets. The partnership also enables 2,100 independent retailers to utilize DoorDash's platform for local commerce. This initiative is aimed at expanding SpartanNash’s digital offerings and growing its market share in grocery retail.
SpartanNash (NASDAQ: SPTN) announced the launch of its annual fundraising campaign to support Special Olympics athletes across eight states, running from May 4, 2022, for 12 days. Customers at SpartanNash stores can donate $1, $5, or $10 at checkout. The SpartanNash Foundation has contributed over $9.7 million throughout its 38-year relationship with Special Olympics. All funds raised will go directly to local Special Olympics affiliates. This year’s campaign follows the company’s commitment to community support and inclusion.
SpartanNash (NASDAQ: SPTN) has issued a statement countering claims from Macellum Advisors and Ancora Holdings, asserting the allegations are misleading. The Company emphasizes that it has not received any acquisition offers or direct approaches from buyers since engaging with Macellum in 2021. The Board remains open to constructive proposals to enhance shareholder value. SpartanNash's management criticized the Investor Group's tactics as repetitive and questioned their genuine interest in collaboration, expressing a commitment to shareholder engagement ahead of the upcoming Annual Meeting.
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