Spartannash Co Stock Price, News & Analysis

SpartanNash has announced the appointment of Greg Crane as Vice President of Finance for Food Distribution, effective June 6. Crane will partner with the Food Distribution leadership team, overseeing budgeting, forecasting, and performance analysis. His expertise aims to enhance financial operations and reduce company expenses. With over 15 years of experience, including previous roles as CFO of GHSP, Inc. and positions at Wolverine World Wide, Crane holds an MBA from the University of Michigan. This addition supports SpartanNash's mission to deliver essential food solutions.

SpartanNash announced its first-quarter results for fiscal 2022, reporting net sales of $2.76 billion, up 4.0% from last year. Net earnings were $19.3 million, slightly down from $19.5 million. Adjusted EBITDA reached a record $76.6 million, a substantial 18.2% increase year-over-year. The company reaffirmed its fiscal 2022 guidance, raising expected net sales to between $9.0 billion and $9.3 billion. SpartanNash also updated long-term targets, aiming for over $10 billion in net sales by 2025.

SpartanNash (Nasdaq: SPTN) announced a quarterly cash dividend of $0.21 per common share, approved by its Board of Directors on May 25, 2022. The dividend is set for payment on June 30, 2022, to shareholders on record as of June 15, 2022. The company reported 36,126,354 common shares outstanding as of May 26, 2022. SpartanNash's capital allocation strategy aims for a balanced approach, including annual dividend increases and share repurchases, supporting their growth framework, Our Winning Recipe™.

SpartanNash urges shareholders to vote for its director nominees on the WHITE proxy card ahead of the June 9, 2022 Annual Meeting. The company highlights strong financial performance, with Q1 2022 net sales projected between $2.74B and $2.77B, and a raised outlook for the full year, including net sales guidance of $9.0B to $9.3B. The Board emphasizes its expertise and successful transformation since 2019, achieving a 251% total shareholder return. They oppose activist investors Macellum and Ancora’s efforts to replace directors, claiming it could jeopardize ongoing growth initiatives.

SpartanNash (Nasdaq: SPTN) will release its first quarter 2022 financial results on June 2, 2022, before the market opens. This report covers the 16-week period ending on April 23, 2022. A conference call is scheduled for the same day at 8:30 a.m. ET to discuss the results, which will also be available via a live webcast on the Company's website. SpartanNash operates 145 supermarkets and serves a diverse customer base, including military commissaries and international clients.

Macellum Advisors and Ancora Holdings, owning 4.5% of SpartanNash (SPTN), have released a rebuttal to the company's May 16 presentation. They criticize the incumbent Board of Directors for poor capital allocation, governance, and succession planning. The Investor Group has nominated three independent candidates for election to the Board, emphasizing the need for new leadership to drive shareholder value. They argue that the current directors, who have been in their roles for an average of 19 years, have failed to create value and should be replaced.

SpartanNash reported strong preliminary first-quarter results and raised its fiscal year 2022 outlook, demonstrating ongoing performance momentum. The company’s presentation for the June 9, 2022, Annual Meeting emphasizes its long-term value creation strategy and highlights the Board's recent transformation with new appointments. Key results include a 4.6% net sales growth and a 20.1% increase in adjusted EBITDA from 2019 to 2021. SpartanNash urges shareholders to vote for its director nominees on the WHITE proxy card, asserting that the competing Investor Group's agenda could jeopardize the company's value.

SpartanNash (Nasdaq: SPTN) announced strong preliminary results for its first quarter ended April 23, 2022, with net sales estimated between $2.74 billion and $2.77 billion, compared to $2.66 billion in the prior year. Net earnings are projected at $18.7 million to $19.7 million, slightly lower than $19.5 million in the previous year. The company raised its fiscal 2022 guidance for net sales to $9.0 billion to $9.3 billion and adjusted EBITDA to $224 million to $239 million. Long-term targets include growing net sales to over $10 billion by 2025.

Investor Group is pushing to replace three long-tenured directors at SpartanNash (SPTN) with its own highly qualified candidates, arguing that the current leadership has made poor capital allocation and governance decisions. The Investor Group holds around 4.5% of SpartanNash's common shares and is urging shareholders to support their nominees on the WHITE Proxy Card at the upcoming annual meeting. The presentation highlights the candidates' expertise and the need for change in the boardroom to enhance shareholder value.