Latest news with #SpartanNash
Yahoo
2 days ago
- Business
- Yahoo
SpartanNash shakes up corporate staff
This story was originally published on Grocery Dive. To receive daily news and insights, subscribe to our free daily Grocery Dive newsletter. SpartanNash has reorganized its corporate structure in an effort to 'better position our company to grow,' according to a spokesperson for the grocery retailer and wholesaler. The changes include the elimination of an unspecified number of positions as well as promotions, reassignments and the establishment of new job levels, the spokesperson said, without providing specifics. People whose employment by SpartanNash has recently ended include Matt Van Gilder, a 19-year SpartanNash veteran who had served since 2019 as the company's director of e-commerce and digital experience. Van Gilder announced in a Thursday LinkedIn post that his career at SpartanNash 'has come to an end as part of some broader organizational changes.' Van Gilder was instrumental in helping SpartanNash scale its online shopping capabilities during the COVID-19 pandemic, according to a profile in Crain's Grand Rapids Business, which named him to its 40 Under 40 list last year. He also developed a training program for SpartanNash employees who assemble online orders in its grocery stores. Brian Jobin, who was director of SpartanNash's vendor management office, also posted on LinkedIn on Thursday that he is no longer in his position. In addition, employees who worked in marketing, graphics and logistics roles for SpartanNash have posted on LinkedIn during the past few days that they are seeking jobs. SpartanNash has also recently parted ways with several senior executives. The company's chief merchandising officer and chief strategy and information officer both left in April, and its executive vice president of corporate retail departed in December. 'We will continue to evolve — as we have throughout our rich 140-year history,' SpartanNash's spokesperson said in an emailed statement on Friday. The organizational changes at SpartanNash come as the company's retail operations play a growing role in driving its business ahead. SpartanNash's retail sales were up almost 20% during the first quarter of 2025, while sales in its wholesale division — which accounts for more than two-thirds of the company's revenue — declined by more than 2%. SpartanNash has been investing in its retail business, which spans locations in 10 states. The Michigan-based company named a new vice president of retail operations in April and brought on a new chief retail officer in late 2024. In May, SpartanNash hired an executive to fill the newly created role of vice president of marketing for the company's retail banners. SpartanNash also added dozens of grocery and convenience stores to its portfolio last year through the purchases of Markham Enterprises, Fresh Encounter and Metcalfe's Market. Recommended Reading SpartanNash names another retail-focused executive Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Miami Herald
3 days ago
- Business
- Miami Herald
SpartanNash shakes up corporate staff
SpartanNash has reorganized its corporate structure in an effort to "better position our company to grow," according to a spokesperson for the grocery retailer and wholesaler. The changes include the elimination of an unspecified number of positions as well as promotions, reassignments and the establishment of new job levels, the spokesperson said, without providing specifics. People whose employment by SpartanNash has recently ended include Matt Van Gilder, a 19-year SpartanNash veteran who had served since 2019 as the company's director of e-commerce and digital experience. Van Gilder announced in a Thursday LinkedIn post that his career at SpartanNash "has come to an end as part of some broader organizational changes." Van Gilder was instrumental in helping SpartanNash scale its online shopping capabilities during the COVID-19 pandemic, according to a profile in Crain's Grand Rapids Business, which named him to its 40 Under 40 list last year. He also developed a training program for SpartanNash employees who assemble online orders in its grocery stores. Brian Jobin, who was director of SpartanNash's vendor management office, also posted on LinkedIn on Thursday that he is no longer in his position. In addition, employees who worked in marketing, graphics and logistics roles for SpartanNash have posted on LinkedIn during the past few days that they are seeking jobs. SpartanNash has also recently parted ways with several senior executives. The company's chief merchandising officer and chief strategy and information officer both left in April, and its executive vice president of corporate retail departed in December. "We will continue to evolve - as we have throughout our rich 140-year history," SpartanNash's spokesperson said in an emailed statement on Friday. The organizational changes at SpartanNash come as the company's retail operations play a growing role in driving its business ahead. SpartanNash's retail sales were up almost 20% during the first quarter of 2025, while sales in its wholesale division - which accounts for more than two-thirds of the company's revenue - declined by more than 2%. SpartanNash has been investing in its retail business, which spans locations in 10 states. The Michigan-based company named a new vice president of retail operations in April and brought on a new chief retail officer in late 2024. In May, SpartanNash hired an executive to fill the newly created role of vice president of marketing for the company's retail banners. SpartanNash also added dozens of grocery and convenience stores to its portfolio last year through the purchases of Markham Enterprises, Fresh Encounter and Metcalfe's Market. Copyright 2025 Industry Dive. All rights reserved.
Miami Herald
6 days ago
- Business
- Miami Herald
SpartanNash's retail sales continue to drive positive results
Dive Brief: SpartanNash's first quarter net sales grew 3.7% during the first quarter of fiscal 2025, to $2.9 billion, with strong retail sales growth offsetting lower volumes in the company's wholesale segment, CFO and Executive Vice President Jason Monaco told investors Thursday morning. The company's retail net sales increased nearly 20% to just over $947 million, driven by incremental sales from acquired stores. Wholesale net sales dropped nearly 3% to just shy of $2 billion. SpartanNash plans to lean into its strong retail performance as it moves forward with growth initiatives, executives told investors. Dive Insight: SpartanNash's first-quarter results mark the fifth consecutive quarter that the grocery solutions company reported an increase in retail sales and the second consecutive quarter that its wholesale sales have dropped. Retail performance was primarily driven by SpartanNash's recent acquisitions as well as a 1.6% increase in comparable-store sales. SpartanNash CEO Tony Sarsam noted that the segment was "up against a tough backdrop" due to an ice storm in late March that impacted nearly 10% of the company's stores for multiple days in its "core market," implying that retail sales could have boomed even more if not for the adverse weather. The next phase of SpartanNash's ongoing strategic plan will put more focus on its retail business. Sarsam noted that the company has already begun onboarding retail-focused executives - like Matt Plum - and said the company will focus on improving the shopper experience with offerings that balance value, low prices and a differentiated offering. SpartanNash plans to continue investing in its retail segment through three growth platforms: expanding capital deployment into "slight conventional and up-market store remodels;" leaning into the convenience store sector; and growing in the Hispanic foods market by expanding its ethnic store footprint, Sarsam said. In late October, SpartanNash acquired three Michigan-based convenience store operator Markham Enterprises. At the time of that acquisition, SpartanNash operated 36 c-stores. Earlier this month, SpartanNash opened its fourth Supermercado Nuestra Familia in Omaha, Nebraska, and plans to open two or three more stores under the banner in the Midwest later this year as well as one or two in the first quarter of 2026, according to Sarsam. During Q1, the company made progress with its "margin-enhancing initiatives," which include supply chain and merchandising transformation, marketing innovation work and its go-to-market plan, Monaco said on the earnings call. The company recently launched a cost leadership program, which will includetapping into its scale to offer more procurement benefits, implementing automated solutions in distribution centers, and establishing new retail processes that are more time-efficient and labor-effective, Sarsam said. "The [cost leadership] program is expected to deliver $50 million of annual benefits with in-year gains this year of approximately $20 million. The program enables us to invest in growth and expand margins, all while offsetting industry headwinds," according to Sarsam. The company reaffirmed its 2025 guidance because "despite the macro environment, our results to date, as well as our expectations for growth programs, give us confidence that we will achieve the 2025 targets we laid out in February," Sarsam said. SpartanNash currently operates nearly 200 grocery stores across 10 states and distributes groceries to more than 2,300 independent retail locations. The company's banners include Family Fare, Martin's Super Markets and D&W Fresh Market. Copyright 2025 Industry Dive. All rights reserved.
Yahoo
7 days ago
- Business
- Yahoo
SpartanNash Announces First Quarter Fiscal 2025 Results
Sales Growth of 3.7%, Included a 1.6% Increase in Retail Comparable Store Sales Reaffirms Fiscal 2025 Guidance GRAND RAPIDS, Mich., May 29, 2025 /PRNewswire/ -- Food solutions company SpartanNash® (the "Company") (Nasdaq: SPTN) today reported financial results for its 16-week first quarter ended April 19, 2025. "We continue to execute on our strategic initiatives and deliver on our commitments. SpartanNash hit the ground running in 2025, posting another quarter of growth and achieving record adjusted EBITDA in the first quarter," said SpartanNash President and CEO Tony Sarsam. "The team's focus on operational excellence contributed to the quarter's strong Wholesale margins, positive comparable store sales, and increased sales from our recent Retail acquisitions. Our results and the success of our strategic plan gives us further confidence that we will achieve our 2025 guidance." First Quarter Fiscal 2025 Highlights(1) Net sales increased 3.7% to $2.91 billion, driven by an increase in volume in the Retail segment, partially offset by lower volume in the Wholesale segment. Wholesale segment net sales decreased 2.6% to $1.96 billion primarily due to reduced case volumes in the national accounts customer channel and the elimination of intercompany sales to the newly acquired Fresh Encounter Inc. stores, partially offset by higher sales in the military customer channel. Retail segment net sales increased 19.6% to $947.2 million due primarily to incremental sales from acquired stores. Retail comparable store sales also increased 1.6%. Net earnings of $2.1 million or $0.06 per diluted share, compared to $13.0 million or $0.37 per diluted share. Adjusted EPS(2)(3) of $0.35, compared to $0.53. Net earnings were lower due to planned increases in depreciation and amortization expense, organizational realignment expense, and Retail store wages. These impacts were partially offset by increased Wholesale segment gross margin rate, lower restructuring and asset impairment charges, and decreased corporate administrative costs. Adjusted EPS(2)(3) excludes the impact of organizational realignment, restructuring and asset impairment charges. Adjusted EBITDA(3)(4) of $76.9 million, compared to $74.9 million. The improvement was driven by the factors above, excluding the unfavorable increase in non-cash expenses, primarily depreciation and amortization that impacted adjusted EPS(2)(3). Cash generated from operating activities of $25.8 million compared to $36.5 million. Capital expenditures and IT capital(5) of $34.6 million compared to $44.1 million. Returned $8.0 million to shareholders through dividends. (1) All comparisons are for the first quarter of 2025 compared with the first quarter of 2024, unless otherwise noted. (2) A reconciliation of net earnings to adjusted earnings from continuing operations, as well as per diluted share ("adjusted EPS"), a non-GAAP financial measure, is provided in Table 3. (3) Non-GAAP profitability measures exclude, among other items, restructuring and asset impairment charges and the impact of the LIFO provision. (4) A reconciliation of net earnings to adjusted EBITDA, a non-GAAP financial measure, is provided in Table 2. (5) A reconciliation of purchases of property and equipment to capital expenditures and IT capital, a non-GAAP financial measure, is provided in Table 5. Fiscal 2025 Outlook Based on the Company's performance to date and the current outlook for the remainder of the year, the Company reaffirms its previous fiscal 2025 guidance provided on February 12, 2025. The following table provides the Company's guidance for fiscal 2025:Fiscal 2025 Outlook 53 Weeks(In millions, except adjusted EPS) Low HighTotal net sales $9,800 $10,000Adjusted EBITDA $263 $278Adjusted EPS $1.60 $1.85Capital expenditures and IT capital $150 $165Guidance incorporates both the investments and benefits from the Company's long-term strategic initiatives, including all transformational programs and tuck-in acquisitions. The adjusted EPS guidance for the fiscal year also reflects an approximate $0.30 impact due to an increase in non-cash expenses primarily depreciation and amortization, as well as incremental interest costs associated with recent acquisitions and capital investments. The Company estimates that the 53rd week will contribute net sales of $0.2 billion, adjusted EBITDA of $4.0 million and adjusted EPS of $0.06. Conference Call & Supplemental Earnings Presentation The Company will host a conference call to discuss its quarterly results with additional comments and details on Thursday, May 29, 2025, at 8:30 a.m. ET. There will also be a simultaneous, live webcast made available on SpartanNash's website at under the "Investors" section and will remain archived on the Company's website through Thursday, June 12, 2025. A supplemental quarterly earnings presentation will also be available on the Company's website at About SpartanNash SpartanNash (Nasdaq: SPTN) is a food solutions company that delivers the ingredients for a better life. Committed to fostering a People First culture, the SpartanNash family of Associates is 20,000 strong. SpartanNash operates two complementary business segments – food wholesale and grocery retail. Its global supply chain network serves wholesale customers that include independent and chain grocers, national retail brands, e-commerce platforms, and U.S. military commissaries and exchanges. The Company distributes products for every aisle in the grocery store, from fresh produce to household goods to its OwnBrands, which include the Our Family® portfolio of products. On the retail side, SpartanNash operates nearly 200 brick-and-mortar grocery stores, primarily under the banners of Family Fare, Martin's Super Markets and D&W Fresh Market, in addition to dozens of pharmacies and fuel centers with convenience stores. Leveraging insights and solutions across its segments, SpartanNash offers a full suite of support services for independent grocers. For more information, visit Forward-Looking Statements The matters discussed in this report, in the Company's press releases, and in the Company's website-accessible conference calls with analysts include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended ("Exchange Act"), about the plans, strategies, objectives, goals or expectations of the Company. These forward-looking statements may be identifiable by words or phrases indicating that the Company or management "expects," "projects," "anticipates," "plans," "believes," "intends," or "estimates," or that a particular occurrence or event "may," "could," "should," "will" or "will likely" result, occur or be pursued or "continue" in the future, that the "outlook," "trend," "guidance" or "target" is toward a particular result or occurrence, that a development is an "opportunity," "priority," "strategy," "focus," that the Company is "positioned" for a particular result, or similarly stated expectations. Undue reliance should not be placed on these forward-looking statements, which speak only as of the date made. Forward-looking statements are necessarily based on estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies may affect actual results and could cause actual results to differ materially. These risks and uncertainties include the Company's ability to compete in an extremely competitive industry; the Company's dependence on certain major customers; the Company's ability to implement its growth strategy and transformation initiatives; the Company's ability to implement its growth strategy through acquisitions and successfully integrate acquired businesses; disruptions to the Company's information technology systems and security network, including security breaches and cyber-attacks; impacts to the availability and performance of the Company's information technology systems; changes in relationships with the Company's vendor base; changes in product availability and product pricing from vendors; macroeconomic uncertainty, including rising inflation, potential economic recession, tariffs and increasing interest rates; difficulty attracting and retaining well-qualified Associates and effectively managing increased labor costs; failure to successfully retain or manage transitions with executive leaders and other key personnel; changes in geopolitical conditions; impairment charges for goodwill or other long-lived assets; impacts to the Company's business and reputation due to focus on environmental, social and governance matters; customers to whom the Company extends credit or for whom the Company guarantees loans may fail to repay the Company; disruptions associated with severe weather conditions and natural disasters, including effects from climate change; disruptions associated with disease outbreaks; the Company's ability to manage its private brand program for U.S. military commissaries, including the termination of the program or not achieving the desired results; the Company's level of indebtedness; interest rate fluctuations; the Company's ability to service its debt and to comply with debt covenants; changes in government regulations; labor relations issues; changes in the military commissary system, including its supply chain, or in the level of governmental funding; product recalls and other product-related safety concerns; cost increases related to multi-employer pension plans; and other risks and uncertainties listed under "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent Annual Report on Form 10-K and in subsequent filings with the Securities and Exchange Commission. Additional risks and uncertainties not currently known to the Company or that the Company currently believes are immaterial also may impair its business, operations, liquidity, financial condition and prospects. The Company undertakes no obligation to update or revise its forward-looking statements to reflect developments that occur or information obtained after the date of this report. INVESTOR CONTACT:Kayleigh CampbellHead of Investor MEDIA CONTACT: Adrienne Chance SVP and Chief Communications Officerpress@ SPARTANNASH COMPANY AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF EARNINGS(Unaudited)16 Weeks Ended April 19, April 20,(In thousands, except per share amounts) 2025 2024Net sales $2,909,624 $2,806,263Cost of sales 2,428,130 2,365,919Gross profit 481,494 440,344Operating expensesSelling, general and administrative 459,061 403,633Acquisition and integration, net 3,840 327Restructuring and asset impairment, net (368) 5,768Total operating expenses 462,533 409,728Operating earnings 18,961 30,616Other expenses and (income)Interest expense, net 15,212 13,487Other, net (251) (1,048)Total other expenses, net 14,961 12,439Earnings before income taxes 4,000 18,177Income tax expense 1,920 5,206Net earnings $2,080 $12,971Net earnings per basic common share $0.06 $0.38Net earnings per diluted common share $0.06 $0.37Weighted average shares outstanding:Basic 33,727 34,139Diluted 34,082 34,593 SPARTANNASH COMPANY AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(Unaudited) April 19, December 28,(In thousands) 2025 2024AssetsCurrent assetsCash and cash equivalents $19,970 $21,570Accounts and notes receivable, net 465,218 448,887Inventories, net 527,428 546,312Prepaid expenses and other current assets 86,000 75,042Total current assets 1,098,616 1,091,811Property and equipment, net 766,015 779,984Goodwill 181,035 181,035Intangible assets, net 116,541 117,821Operating lease assets 314,008 327,211Other assets, net 104,361 104,434Total assets $2,580,576 $2,602,296Liabilities and Shareholders' EquityCurrent liabilitiesAccounts payable $491,116 $485,017Accrued payroll and benefits 53,340 85,829Other accrued expenses 55,697 61,993Current portion of operating lease liabilities 47,401 49,562Current portion of long-term debt and finance lease liabilities 15,043 12,838Total current liabilities 662,597 695,239Long-term liabilitiesDeferred income taxes 100,675 91,010Operating lease liabilities 290,472 305,051Other long-term liabilities 25,310 26,537Long-term debt and finance lease liabilities 761,985 740,969Total long-term liabilities 1,178,442 1,163,567Commitments and contingenciesShareholders' equityCommon stock, voting, no par value; 100,000 shares authorized; 33,857 and 33,752 shares outstanding 458,421 454,751Preferred stock, no par value, 10,000 shares authorized; no shares outstanding — —Accumulated other comprehensive (loss) income (521) 1,337Retained earnings 281,637 287,402Total shareholders' equity 739,537 743,490Total liabilities and shareholders' equity $2,580,576 $2,602,296 SPARTANNASH COMPANY AND SUBSIDIARIESCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited)16 Weeks Ended(In thousands)April 19, 2025 April 20, 2024Cash flow activities Net cash provided by operating activities$25,828 $36,463Net cash used in investing activities(36,960) (38,104)Net cash provided by financing activities9,532 2,645Net (decrease) increase in cash and cash equivalents(1,600) 1,004Cash and cash equivalents at beginning of the period21,570 17,964Cash and cash equivalents at end of the period$19,970 $18,968 SPARTANNASH COMPANY AND SUBSIDIARIESSUPPLEMENTAL FINANCIAL DATATable 1: Sales and Operating Earnings (Loss) by Segment(Unaudited) 16 Weeks Ended(In thousands) April 19, 2025 April 20, 2024Wholesale Segment: Net sales $1,962,421 67.4 %$2,014,021 71.8 % Operating earnings 33,249 36,002Retail Segment:Net sales 947,203 32.6 %792,242 28.2 % Operating loss (14,288) (5,386)Total:Net sales $2,909,624 100.0 %$2,806,263 100.0 % Operating earnings 18,961 30,616Non-GAAP Financial Measures In addition to reporting financial results in accordance with GAAP, the Company also provides information regarding adjusted earnings from continuing operations, as well as per diluted share ("adjusted EPS"), net long-term debt, capital expenditures and IT capital, and adjusted earnings before interest, taxes, depreciation and amortization ("adjusted EBITDA"). These are non-GAAP financial measures, as defined below, and are used by management to allocate resources, assess performance against its peers and evaluate overall performance. The Company believes these measures provide useful information for both management and its investors. The Company believes these non-GAAP measures are useful to investors because they provide additional understanding of the trends and special circumstances that affect its business. These measures provide useful supplemental information that helps investors to establish a basis for expected performance and the ability to evaluate actual results against that expectation. The measures, when considered in connection with GAAP results, can be used to assess the overall performance of the Company as well as assess the Company's performance against its peers. These measures are also used as a basis for certain compensation programs sponsored by the Company. In addition, securities analysts, fund managers and other shareholders and stakeholders that communicate with the Company request its financial results in these adjusted formats. Current year adjusted earnings from continuing operations, and adjusted EBITDA exclude, among other items, LIFO expense, organizational realignment, and severance associated with cost reduction initiatives. Current year organizational realignment includes consulting and severance costs associated with the Company's long-term plan, which relates to the reorganization of certain functions. Prior year adjusted earnings from continuing operations, and adjusted EBITDA exclude, among other items, LIFO expense, organizational realignment, severance associated with cost reduction initiatives, a non-routine settlement related to a legal matter resulting from a previously closed operation that was resolved during the prior year and operating and non-operating costs associated with the postretirement plan amendment and settlement. Costs related to the postretirement plan amendment and settlement include non-operating expenses associated with amortization of the prior service credit related to the amendment of the retiree medical plan, which are adjusted out of adjusted earnings from continuing operations. Postretirement plan amendment and settlement costs also include operating expenses related to payroll taxes which are adjusted out of all non-GAAP financial measures. Each of these items are considered "non-operational" or "non-core" in nature. The Company is unable to provide a full reconciliation of the GAAP to non-GAAP measures used in the Fiscal 2025 Outlook section of this press release without unreasonable effort because it is not possible to predict certain adjustment items with a reasonable degree of certainty since they are not yet known or quantifiable, and do not relate to the Company's normal operating activities. These adjustments may include, among other items, restructuring and asset impairment activity, acquisition and integration costs, severance, organizational realignment costs, and the impact of adjustments to the LIFO inventory reserve. This information is dependent upon future events, which may be outside of the Company's control and could have a significant impact on its GAAP financial results for fiscal 2025. Table 2: Reconciliation of Net Earnings to Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA)(A Non-GAAP Financial Measure)(Unaudited) 16 Weeks Ended(In thousands) April 19, 2025 April 20, 2024Net earnings $2,080 $12,971Income tax expense 1,920 5,206Other expenses, net 14,961 12,439Operating earnings 18,961 30,616Adjustments:LIFO expense 4,634 2,020Depreciation and amortization 36,843 30,646Acquisition and integration, net 3,840 327Restructuring and asset impairment, net (368) 5,768Cloud computing amortization 2,673 2,018Organizational realignment, net 4,617 306Severance associated with cost reduction initiatives 89 69Stock-based compensation 5,769 3,720Stock warrant 188 326Non-cash rent (484) (901)Loss (gain) on disposal of assets 102 (20)Adjusted EBITDA $76,864 $74,895Wholesale:Operating earnings $33,249 $36,002Adjustments:LIFO expense 3,247 1,555Depreciation and amortization 18,091 16,078Acquisition and integration, net 2,061 —Restructuring and asset impairment, net (3,605) (150)Cloud computing amortization 1,788 1,369Organizational realignment, net 2,881 191Severance associated with cost reduction initiatives 89 69Stock-based compensation 3,910 2,504Stock warrant 188 326Non-cash rent (31) (300)Gain on disposal of assets (73) (18)Adjusted EBITDA $61,795 $57,626Retail:Operating loss (14,288) (5,386)Adjustments:LIFO expense 1,387 465Depreciation and amortization 18,752 14,568Acquisition and integration, net 1,779 327Restructuring and asset impairment, net 3,237 5,918Cloud computing amortization 885 649Organizational realignment, net 1,736 115Stock-based compensation 1,859 1,216Non-cash rent (453) (601)Loss (gain) on disposal of assets 175 (2)Adjusted EBITDA $15,069 $17,269Notes: Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization ("adjusted EBITDA") is a non-GAAP operating financial measure that the Company defines as net earnings plus interest, discontinued operations, depreciation and amortization, and other non-cash items including share-based payments (equity awards measured in accordance with ASC 718, Stock Compensation, which include both stock-based compensation to employees and stock warrants issued to non-employees) and the LIFO provision, as well as adjustments for items that do not reflect the ongoing operating activities of the Company. Adjusted EBITDA and adjusted EBITDA by segment are not measures of performance under GAAP and should not be considered as a substitute for net earnings, cash flows from operating activities and other income or cash flow statement data. The Company's definitions of adjusted EBITDA and adjusted EBITDA by segment may not be identical to similarly titled measures reported by other companies. Table 3: Reconciliation of Net Earnings to Adjusted Earnings from Continuing Operations, as well as per diluted share ("adjusted EPS")(A Non-GAAP Financial Measure)(Unaudited)16 Weeks EndedApril 19, 2025April 20, 2024 per diluted per diluted (In thousands, except per share amounts) Earnings shareEarnings share Net earnings $2,080 $0.06$12,971 $0.37 Adjustments:LIFO expense 4,6342,020 Acquisition and integration, net 3,840327 Restructuring and asset impairment, net (199)5,768 Organizational realignment, net 4,617306 Severance associated with cost reduction initiatives 8969 Postretirement plan amendment and settlement —(945) Total adjustments 12,9817,545 Income tax effect on adjustments (a) (3,101)(2,036) Total adjustments, net of taxes 9,880 0.295,509 0.16 Adjusted earnings from continuing operations $11,960 $0.35$18,480 $0.53(a) The income tax effect on adjustments is computed by applying the applicable tax rate to the adjustments. Notes: Adjusted earnings from continuing operations, as well as per diluted share ("adjusted EPS"), is a non-GAAP operating financial measure that the Company defines as net earnings plus or minus adjustments for items that do not reflect the ongoing operating activities of the Company and costs associated with the closing of operational locations. Adjusted earnings from continuing operations is not a measure of performance under GAAP and should not be considered as a substitute for net earnings, cash flows from operating activities and other income or cash flow statement data. The Company's definition of adjusted earnings from continuing operations may not be identical to similarly titled measures reported by other companies. Table 4: Reconciliation of Long-Term Debt and Finance Lease Obligations to Net Long-Term Debt and Net (Loss) Earnings to Adjusted EBITDA(A Non-GAAP Financial Measure)(Unaudited) (In thousands) April 19, 2025 December 28, 2024Current portion of long-term debt and finance lease liabilities $15,043 $12,838Long-term debt and finance lease liabilities 761,985 740,969Total debt 777,028 753,807Cash and cash equivalents (19,970) (21,570)Net long-term debt $757,058 $732,237Rolling 52- Weeks Ended(In thousands, except for ratio) April 19, 2025 December 28, 2024Net (loss) earnings $(10,592) $299Income tax expense 7,440 10,726Other expenses, net 45,458 42,936Operating earnings 42,306 53,961Adjustments:LIFO expense 7,781 5,167Depreciation and amortization 109,609 103,412Acquisition and integration, net 6,626 3,113Restructuring and goodwill / asset impairment, net 67,971 74,107Cloud computing amortization 8,240 7,585Organizational realignment, net 7,068 2,757Severance associated with cost reduction initiatives 557 537Stock-based compensation 12,792 10,743Stock warrant 730 868Non-cash rent (2,262) (2,679)Gain on disposal of assets (162) (284)Legal settlement (900) (900)Postretirement plan amendment and settlement 99 99Adjusted EBITDA $260,455 $258,486Net long-term debt to adjusted EBITDA ratio 2.9 2.8Notes: Net long-term debt is a non-GAAP financial measure that is defined as long-term debt and finance lease obligations plus current maturities of long-term debt and finance lease obligations less cash and cash equivalents. The Company believes both management and its investors find the information useful because it reflects the amount of long-term debt obligations that are not covered by available cash. Net long-term debt is not a substitute for GAAP financial measures and may differ from similarly titled measures of other companies. Table 5: Reconciliation of Purchases of Property and Equipment to Capital Expenditures and IT Capital(A Non-GAAP Financial Measure)(Unaudited)16 Weeks Ended(In thousands)April 19, 2025 April 20, 2024Purchases of property and equipment$31,593 $40,163Plus: Cloud computing spend3,031 3,898Capital expenditures and IT capital$34,624 $44,061Notes: Capital expenditures and IT capital is a non-GAAP financial measure calculated by adding spending related to the development of cloud computing applications to capital expenditures, the most directly comparable GAAP measure. Cloud computing spend only includes costs incurred during the application development phase and does not include ongoing costs of hosting or maintenance associated with these applications, which are expensed as incurred. The Company believes it is a useful indicator of the Company's investment in its facilities and systems as it transitions to more cloud-based IT systems. Capital expenditures and IT capital is not a substitute for GAAP financial measures and may differ from similarly titled measures of other companies. View original content to download multimedia: SOURCE SpartanNash Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
25-05-2025
- Business
- Yahoo
SpartanNash (NASDAQ:SPTN) Will Pay A Dividend Of $0.22
The board of SpartanNash Company (NASDAQ:SPTN) has announced that it will pay a dividend of $0.22 per share on the 30th of June. Based on this payment, the dividend yield on the company's stock will be 4.6%, which is an attractive boost to shareholder returns. Our free stock report includes 4 warning signs investors should be aware of before investing in SpartanNash. Read for free now. A big dividend yield for a few years doesn't mean much if it can't be sustained. Before making this announcement, SpartanNash's dividend was higher than its profits, but the free cash flows quite comfortably covered it. Healthy cash flows are always a positive sign, especially when they quite easily cover the dividend. Analysts expect a massive rise in earnings per share in the next year. If recent patterns in the dividend continue, we could see the payout ratio reaching 53% which is fairly sustainable. Check out our latest analysis for SpartanNash The company has a sustained record of paying dividends with very little fluctuation. The annual payment during the last 10 years was $0.48 in 2015, and the most recent fiscal year payment was $0.87. This implies that the company grew its distributions at a yearly rate of about 6.1% over that duration. The dividend has been growing very nicely for a number of years, and has given its shareholders some nice income in their portfolios. Investors who have held shares in the company for the past few years will be happy with the dividend income they have received. Let's not jump to conclusions as things might not be as good as they appear on the surface. SpartanNash's earnings per share has shrunk at 44% a year over the past five years. Dividend payments are likely to come under some pressure unless EPS can pull out of the nosedive it is in. However, the next year is actually looking up, with earnings set to rise. We would just wait until it becomes a pattern before getting too excited. Overall, it's nice to see a consistent dividend payment, but we think that longer term, the current level of payment might be unsustainable. The company is generating plenty of cash, but we still think the dividend is a bit high for comfort. Overall, we don't think this company has the makings of a good income stock. Market movements attest to how highly valued a consistent dividend policy is compared to one which is more unpredictable. Still, investors need to consider a host of other factors, apart from dividend payments, when analysing a company. Case in point: We've spotted 4 warning signs for SpartanNash (of which 1 is concerning!) you should know about. Looking for more high-yielding dividend ideas? Try our collection of strong dividend payers. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
