Spartannash Co Stock Price, News & Analysis

SpartanNash (Nasdaq: SPTN) announced a successful fundraising campaign, raising approximately $205,000 for the Special Olympics from Feb. 8 to Feb. 24. Including the SpartanNash Foundation's contribution, the total donation reached $235,000, bringing the lifetime donation to over $10.1 million in 39 years. The initiative supports Special Olympics athletes across eight states, with donations allocated to local affiliates. This year's campaign also highlighted the employment of 16 Special Olympics athletes within SpartanNash, showcasing the company's commitment to community support and inclusion.

On March 3, 2023, SpartanNash announced the promotion of Todd Riksen to Vice President, Corporate Controller & Principal Accounting Officer. Riksen, who joined the company in April 2018, has successfully led the finance organization during a significant turnaround and will oversee all accounting functions. His promotion underscores the company's commitment to its People First culture. SpartanNash is a leading food solutions provider with a vast distribution network, operating 147 supermarkets and serving customers across the U.S. and internationally.

SpartanNash announced on March 1, 2023, the approval of a quarterly cash dividend of $0.215 per common share, marking a 2.4% increase from the previous fiscal year’s dividend of $0.21. This dividend will be payable on March 31, 2023, to shareholders on record as of the close of business on March 17, 2023. As of February 28, 2023, SpartanNash had 35,061,566 shares outstanding. The company operates a diverse supply chain network, distributing grocery and household items across all 50 states and internationally.

SpartanNash (Nasdaq: SPTN) reported fourth-quarter net sales of $2.3 billion, up 10.3% year-over-year, and fiscal year 2022 net sales of $9.6 billion, an 8.0% increase. However, net earnings decreased significantly, falling to $0.7 million in Q4 and $34.5 million for the fiscal year, compared to $22.2 million and $73.8 million respectively in prior periods. Adjusted EBITDA rose to $47.2 million for Q4 and $242.9 million for the year. The company anticipates fiscal 2023 net sales between $9.9 billion and $10.2 billion, with adjusted EPS guidance of $2.20 to $2.35. Long-term goals include surpassing $10.5 billion in net sales by 2025.

On February 9, 2023, SpartanNash (NASDAQ: SPTN) announced its partnership with Convoy of Hope to provide essential supplies to survivors of the devastating Turkey-Syria earthquakes, which have claimed over 20,000 lives. The company donated bottled water and baby diapers to aid those affected. In 2022, SpartanNash contributed $1 million in product donations for various disaster relief efforts. CEO Tony Sarsam emphasized the company's commitment to helping those in need, reflecting its corporate identity of service and solutions.

On February 9, 2023, SpartanNash (NASDAQ: SPTN) announced it will release its fourth quarter and fiscal year 2022 financial results on February 23, 2023, prior to market open. A conference call is scheduled for 8:30 a.m. ET on the same day, providing insights into the company’s performance. Investors can access the call and a supplemental earnings presentation via SpartanNash's website.

As a food solutions company, SpartanNash operates supermarkets and offers distribution services across various sectors, including grocery and household goods.

SpartanNash (NASDAQ: SPTN) announced its annual in-store fundraising campaign through the SpartanNash Foundation to support Special Olympics athletes, running from February 8 to 19, 2023. Customers can donate at checkout or online, with funds staying local to support affiliates in eight states: Iowa, Michigan, Nebraska, North Dakota, Ohio, South Dakota, Minnesota, and Wisconsin. This initiative is part of SpartanNash's 39-year partnership with Special Olympics, which has included over $9.9 million in donations and thousands of volunteer hours. The company also employs 16 Special Olympics athletes across its retail operations.

On January 30, 2023, SpartanNash (Nasdaq: SPTN) appointed Ryan Speakes as Vice President of Fuel Center and Convenience Stores. Speakes, formerly a Market Leader at 7-Eleven, will oversee operations at 37 fuel centers, focusing on business optimization and growth. His expertise from previous positions at Speedway and 7-Eleven will be crucial as the company aims to innovate within the growing convenience store sector. The hire reflects SpartanNash's commitment to enhancing its leadership team and its People First culture, a strategy emphasized since CEO Tony Sarsam's appointment in 2020.

SpartanNash has acquired Great Lakes Foods, an independent grocery wholesaler, along with its 300,000-square-foot distribution center in Menominee, Michigan. This facility supports around 100 independent grocery customers and employs 125 associates. The acquisition aims to optimize SpartanNash's supply chain, drive growth through geographic expansion, and enhance services to existing customers. The integration will be carefully implemented throughout 2023 to ensure continuity and shareholder value.