Welcome to our dedicated page for SpartanNash Company news (Ticker: SPTN), a resource for investors and traders seeking the latest updates and insights on SpartanNash Company stock.
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 (SPTN) reported its Q2 2021 financial results, revealing net sales of $2.11 billion, a 3.6% decline from the previous year, primarily due to reduced consumer demand post-COVID-19. EPS was $0.47, while adjusted EPS was $0.54. Adjusted EBITDA dropped to $54.4 million from $59.2 million the year prior. The company increased its fiscal 2021 guidance for EPS to a range of $1.56 to $1.69 per share and adjusted EBITDA to $200 to $210 million. Ongoing challenges include labor shortages and supply chain issues.
SpartanNash (Nasdaq: SPTN) has launched a companywide milk drive fundraiser in partnership with the United Dairy Industry of Michigan, running from Aug. 15-29. This initiative aims to support local families facing food insecurity, with over 145 participating stores. The funds raised will directly purchase milk at cost for families in need. According to Feeding America, nearly 95% of food banks report insufficient milk supplies. SpartanNash's VP of Communications highlighted the increasing reliance on food banks due to COVID-19's economic impact.
SpartanNash Company (Nasdaq: SPTN) will release its second quarter financial results after market close on August 18, 2021. A conference call is scheduled for August 19, 2021, at 8:00 a.m. ET to discuss the results, with a live webcast available on the company's website.
SpartanNash, a Fortune 400 firm, specializes in grocery distribution and operates 148 supermarkets in the U.S. It serves diverse locations, including military commissaries across various countries. The company’s distribution network emphasizes fresh produce and grocery products.
SpartanNash (Nasdaq: SPTN) has raised $330,000 through its foundation to support military and veteran organizations, including Team RWB, Operation Homefront, and Honor and Remember. This fundraising effort occurred between June 30 and July 13, with participation from over 145 stores under various banners such as Family Fare and D&W Fresh Market. Since 2016, the SpartanNash Foundation has granted over $1.7 million to veterans' service organizations. SpartanNash is committed to assisting the military community through financial support, product donations, and volunteer hours.
SpartanNash (Nasdaq: SPTN) is set to inaugurate its first Micro-Fulfillment Center in Caledonia, Michigan, on July 26. This 55,000-square-foot facility will enhance the Fast Lane grocery shopping experience by fulfilling over 1,000 orders daily, significantly increasing efficiency and product availability. The center, designed to handle 16,000 products, will support multiple local stores, doubling current Fast Lane capabilities. Since its launch in 2017, Fast Lane has accumulated nearly one million orders, reflecting strong customer engagement and demand.
The SpartanNash Foundation has launched a companywide fundraising campaign to support U.S. military heroes and their families, running until July 11. Customers at participating stores can donate $1, $5, or $10 at checkout. All funds will be distributed evenly to Team Red, White & Blue, Operation Homefront, and Honor and Remember. Since 2016, the foundation has raised nearly $1.5 million for military-related initiatives. SpartanNash emphasizes its commitment to supporting military personnel through essential goods and fundraising efforts.
The SpartanNash Foundation has announced a donation of $243,750 to Special Olympics to promote inclusion programs for individuals with intellectual disabilities. The funds will support athletes and Summer Games across several states including Iowa and Michigan. Between May 5-18, 2021, SpartanNash stores engaged customers to raise funds through donations. The company has contributed over $9.7 million since 1985 to Special Olympics, reinforcing its commitment to diversity and community support. Upcoming fundraising efforts will also target veterans and food pantries.
SpartanNash Company (Nasdaq: SPTN) has announced enhancements for its Fast Lane™ subscribers, emphasizing the convenience and savings of online grocery shopping. Annual subscriptions are now available for $49, offering benefits like free curbside pickup and half-off delivery in select areas. Subscribers can save up to $465 annually on pick fees and $208 on delivery fees. Additionally, monthly savings on products like Our Family® and Daisy Cottage Cheese are introduced. Fast Lane is available at 68 stores across six states, providing a time-saving shopping alternative.
SpartanNash Company (Nasdaq: SPTN) has partnered with Bonum Health to offer telemedicine services across its pharmacies, enhancing patient access to care. Customers can schedule a visit for $29 or opt for a subscription at $11 per month, covering all household dependents. The service aims to provide affordable health care, especially for those uninsured or seeking cost savings. This initiative complements SpartanNash's existing pharmacy services, including vaccinations and medication safety initiatives, across its 86 pharmacies in seven states.
FAQ
What is the current stock price of SpartanNash Company (SPTN)?
What is the market cap of SpartanNash Company (SPTN)?
What are the main business segments of SpartanNash?
What is the history of SpartanNash?
What recent technologies has SpartanNash implemented?
What is the ReposiTrak Traceability Network?
What financial performance did SpartanNash report for the third quarter of 2023?
What is the Finest Reserve by Our Family brand?
How does SpartanNash support education?
Where are SpartanNash's retail stores located?
How does SpartanNash contribute to the military community?
What are SpartanNash's future strategic initiatives?
