GRAND RAPIDS, MI - With a look at its performance for the second quarter of 2024, SpartanNash is implementing several strategies to drive growth across its retail operations. As the food solutions company released its latest financial report, President and Chief Executive Officer Tony Sarsam noted significant margin gains and the pilot of a new retail initiative.
"The team's execution of our transformational initiatives has created a foundation for future growth while contributing to our margin gains year-to-date," said President and Chief Executive Officer Tony Sarsam. "We are pleased with the progression of our investments in margin-enhancing programs and expect benefits by the end of the year. Building on this progress, we are piloting a Customer Value Proposition initiative that is informed by extensive shopper data and insights, aimed at enhancing freshness, value, and convenience. As part of this store modernization program, we are lowering prices on 6,000 products to bring more value to our shoppers today."
For the second quarter specifically, SpartanNash reported that its net sales were $2.23 billion, a 3.5 percent decrease driven by lower volumes in the Wholesale and Retail segments.
Regarding its newly acquired Metcalfe’s Market banner, the company reported that incremental sales were offset by lower consumer demand trends.
In addition, SpartanNash reported:
- Net earnings of $0.34 per diluted share, compared to $0.57 per diluted share
- Adjusted EBITDA of $64.5 million, compared to $66.1 million
To dive further into the company’s quarterly results, click here.
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