GRAND RAPIDS, MI - Staying true to its core company values has proven to be fruitful for SpartanNash as the retailer recently announced $2.3 billion in net sales for its fourth quarter ended December 31, 2022.
"Our team continues to execute on Our Winning Recipe™, which led to solid fourth-quarter results and fiscal 2022 performance that exceeded expectations," said SpartanNash President and Chief Executive Officer Tony Sarsam. "Our strategy is driving sustainable growth, and I am proud that our supply chain and merchandising transformation initiatives will continue to generate significant benefits for our customers, store guests, and suppliers in 2023 and beyond. Thank you to our dedicated Associates who consistently demonstrate operational excellence, giving us confidence we will reach our long-term growth and profitability targets."
Overall, SpartanNash saw a 10.3 percent net sales increase compared to the prior year quarter, which came in at $2.1 billion, according to the report. Other highlights from the fourth quarter and fiscal 2022 results include:
- Net sales of $9.6 billion for the fiscal year, an increase of 8.0 percent compared to $8.9 billion in the prior fiscal year
- Retail comparable sales increased 9.1 percent for the quarter and 7.7 percent for the fiscal year
- Adjusted EBITDA of $47.2 million for the quarter compared to $43.0 million in the prior year’s quarter. Adjusted EBITDA of $242.9 million for the fiscal year compared to $213.7 million in the prior fiscal year
Looking ahead to 2025, the retailer’s outlook and goals include:
- Net sales to more than $10.5 billion (previously $10 billion), an increase of at least 17 percent from fiscal 2021
- Adjusted EBITDA to more than $300 million, an increase of at least 40 percent from fiscal 2021
- Increasing net sales by more than $1 billion through customer acquisition and continued expansion into value-add offerings
- Realizing benefits of $125 million to $150 million during fiscal 2021 through fiscal 2025 from the supply chain and merchandising transformation initiatives, as well as the ongoing marketing innovation
To read the report in its entirety, click here.
What initiatives will SpartanNash introduce in 2023 to stay on track for its 2025 goals? Stick with AndNowUKnow for answers.
