Spartan Stores Grind Out a Q1 Victory


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Fri. August 3rd, 2012

Spartan Stores has reported its first quarter results. Consolidated net sales for the 12 week period were $603.9 million, an increase of 0.2 percent when compared to $602.6 million in the same comparable period last year. Sales increased in both the distribution and retail segments. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization for the period was $22.6 million. First quarter gross profit margin decreased 60 basis points to 20.2 percent from 20.8 percent in the same period last year.<hr class="legacyRuler"><hr class="invisible minimal-padding">Dennis Eidson, Spartan’s President and Chief Executive Officer, stated, “We are pleased with our ability to improve the sales momentum in our retail segment, despite continuing to operate in a challenging environment during the first quarter.” He continued, “We remain focused on tightly managing the controllable aspects of our business and believe the marketing and promotional efforts around our YES Rewards program will continue to enhance and emphasize our value offering to the consumer. Additionally, we remain committed to increasing the return to our shareholders, as demonstrated by the increase in our quarterly dividend and continued share repurchases.”<hr class="legacyRuler"><hr class="invisible minimal-padding">