SpartanNash Reports 1.8% Increase in Net Sales to $2.27 Billion; Net Earnings Fall to $6.2 Million, Adjusted EPS at $0.54

Reuters08-14
SpartanNash Reports 1.8% Increase in Net Sales to $2.27 Billion; Net Earnings Fall to $6.2 Million, Adjusted EPS at $0.54

SpartanNash Company has announced its financial results for the second quarter of fiscal 2025. The company reported a 1.8% increase in net sales, reaching $2.27 billion. This growth was primarily driven by contributions from recent acquisitions within the Retail segment, despite a decline in the Wholesale segment. The Wholesale segment experienced a 3.0% decrease in net sales to $1.51 billion, attributed mainly to reduced case volumes in the national accounts customer channel and the elimination of intercompany sales to newly acquired Fresh Encounter Inc. stores. However, this was partially offset by higher sales in the military customer channel. The Retail segment saw a substantial increase of 12.8% in net sales, amounting to $762.9 million due to incremental sales from recently acquired stores, even though Retail comparable store sales decreased by 0.5% due to lower unit volumes. The company reported net earnings of $6.2 million, or $0.18 per diluted share, compared to $11.5 million, or $0.34 per diluted share, in the previous year. The adjusted earnings per share stood at $0.54, down from $0.59. The decrease in net earnings was largely due to costs associated with the pending merger, depreciation, amortization, enterprise-wide organizational realignment, and higher incentive compensation. These were partially mitigated by improvements in the Wholesale segment gross margin rate and reductions in restructuring, asset impairment charges, and corporate administrative costs. SpartanNash also reported an adjusted EBITDA of $68.7 million, compared to $64.5 million in the previous year. The company highlighted that closing the C&S Wholesale Grocers transaction remains a top priority and is expected to occur in late 2025.

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