Spartannash Co Stock Price, News & Analysis

On November 16, 2022, SpartanNash (Nasdaq: SPTN) declared a quarterly cash dividend of $0.21 per common share. This dividend will be paid on December 30, 2022, to shareholders recorded as of December 9, 2022. As of November 17, 2022, there are 35,262,127 common shares outstanding. The company serves a diverse customer base, including military commissaries and its own grocery stores across the U.S. and internationally, with a workforce of over 17,500 employees.

SpartanNash has announced a partnership with Uber to offer on-demand and scheduled grocery delivery across the Midwest. Starting this week, nearly 100 SpartanNash stores, including Family Fare, Martin’s Super Markets, and D&W Fresh Market, will be available on the Uber and Uber Eats platforms. Customers can order a variety of products, enhancing convenience for last-minute holiday shoppers. The partnership aims to expand SpartanNash’s reach to its network of 2,100 independent grocery retailers, reinforcing its commitment to customer-focused innovation.

SpartanNash (Nasdaq: SPTN) reported Q3 fiscal 2022 results with net sales soaring 10.8% to $2.3 billion, driven by wholesale and retail growth amid inflation. However, net earnings fell 37.6% to $9.5 million from the previous year. Adjusted EBITDA increased 11.3% to $57.3 million. The company raised its fiscal year 2022 guidance, projecting net sales between $9.5 and $9.7 billion and adjusted EBITDA of $237 to $242 million. Ongoing challenges include rising interest expenses and decreased gross margins.

On November 2, SpartanNash celebrated its inaugural Investor Day, highlighting its strategic growth plan and mission, "Our Winning Recipe". CEO Tony Sarsam emphasized the company's evolution from a small candy store in 1885 to a vital player in America's food supply chain. During the Nasdaq Opening Bell ceremony, broadcasted nationwide, Sarsam and the executive team showcased SpartanNash's commitment to innovation and community service. The company supports over 17,500 associates and operates a robust distribution network across the U.S. and beyond, aiming for enhanced shareholder value.

SpartanNash hosted its Investor Day to discuss long-term strategies and fiscal 2025 targets. Preliminary results for Q3 2022 show net sales between $2.28-$2.31 billion, up from $2.07 billion last year. However, net earnings fell to $8.9-$9.9 million from $15.2 million in the previous year. The company increased its fiscal 2022 guidance, now expecting net sales of $9.5-$9.7 billion. Highlights include an 8% rise in retail comparable store sales and $22.5 million in dividends paid. SpartanNash aims to exceed $10 billion in net sales by fiscal 2025, representing a 12% growth.

SpartanNash is expanding its grocery delivery services by partnering with Shipt ahead of the holiday season. Customers can now shop from nearly 90 SpartanNash-owned grocery stores in states including Iowa, Indiana, Michigan, Nebraska, North Dakota, and Ohio, with deliveries available in as soon as one hour. This collaboration aims to enhance customer convenience during high-demand periods. Shipt offers a promotional free delivery option for first-time users with a minimum order of $10 using code GETSHIPT.

SpartanNash (NASDAQ: SPTN) will release its financial results for the third quarter ended October 8, 2022, on November 9, 2022, before market open. The Company will hold a conference call at 8:30 a.m. ET the same day to discuss the results, accessible via a live webcast on its website. SpartanNash is a food solutions provider with a diverse distribution network, supplying grocery and household goods to various customers, including military commissaries and retail stores across the U.S. and internationally.

SpartanNash (Nasdaq: SPTN) is launching its annual in-store fundraising campaign from Oct. 26 to Nov. 6, 2022, aimed at supporting local food banks across eight states, including Michigan, Indiana, and Ohio. Customers can donate at checkout or online, with contributions going to food pantries to aid families facing food insecurity this holiday season. Since its inception in 2016, the SpartanNash Foundation has raised over $1.7 million to benefit these initiatives, with each dollar providing up to 10 meals.