Spartannash Co Stock Price, News & Analysis

SpartanNash (NASDAQ: SPTN) has announced a strategic partnership with DoorDash to enhance its grocery delivery services. This collaboration allows on-demand grocery delivery from over 100 SpartanNash-owned stores, including Family Fare and Martin’s Super Markets. The partnership also enables 2,100 independent retailers to utilize DoorDash's platform for local commerce. This initiative is aimed at expanding SpartanNash’s digital offerings and growing its market share in grocery retail.

SpartanNash (NASDAQ: SPTN) announced the launch of its annual fundraising campaign to support Special Olympics athletes across eight states, running from May 4, 2022, for 12 days. Customers at SpartanNash stores can donate $1, $5, or $10 at checkout. The SpartanNash Foundation has contributed over $9.7 million throughout its 38-year relationship with Special Olympics. All funds raised will go directly to local Special Olympics affiliates. This year’s campaign follows the company’s commitment to community support and inclusion.

SpartanNash (NASDAQ: SPTN) has issued a statement countering claims from Macellum Advisors and Ancora Holdings, asserting the allegations are misleading. The Company emphasizes that it has not received any acquisition offers or direct approaches from buyers since engaging with Macellum in 2021. The Board remains open to constructive proposals to enhance shareholder value. SpartanNash's management criticized the Investor Group's tactics as repetitive and questioned their genuine interest in collaboration, expressing a commitment to shareholder engagement ahead of the upcoming Annual Meeting.

Macellum Advisors GP and Ancora Holdings Group, owning approximately 4.5% of SpartanNash (NYSE: SPTN), urge the Board to form a special committee of independent directors. This committee would evaluate strategic alternatives including a potential sale of the company. The Investor Group criticizes the Board's management record, highlighting dismal shareholder returns and failed acquisitions. They are prepared to negotiate to avoid a contested election and to enhance shareholder value.

SpartanNash recently urged shareholders to vote for its slate of eight qualified director nominees at their upcoming Annual Meeting on June 9, 2022. The company's Board believes its recent refreshment and strategic changes have led to a significant 251% total shareholder return since 2019 and 88% since September 2020, outperforming the S&P 500. In contrast, activist investors Macellum and Ancora are attempting to replace three directors, but SpartanNash argues that their nominees lack relevant skills and would reduce Board diversity. Shareholders are encouraged to support the existing Board to ensure continued progress.

SpartanNash has launched a new online platform, SpartanNash SpecialtyDirect, in partnership with Specialty Food Partners, enhancing food solutions for independent grocers across the U.S. This initiative allows over 2,100 independent grocers to access a wide range of specialty and local products, simplifying the ordering process and invoicing. The platform aims to meet the growing consumer demand for unique and local food options, helping retailers save time and resources while staying competitive.

SpartanNash (Nasdaq: SPTN) has appointed Peter Anjorin as Vice President of Strategy and Business Development. Anjorin, with nearly 20 years of experience in strategy and operations, will focus on growth initiatives including partnerships, innovations, and mergers. Previously at Whirlpool, he led product strategy for refrigeration. His role aims to advance SpartanNash's mission to enhance customer-centric innovations and bolster shareholder value. Anjorin holds an MBA from Western Michigan University and a mechanical engineering degree from Calvin University.

Macellum Advisors and Ancora Holdings, holding approximately 4.5% of SpartanNash's shares, demand urgent boardroom changes due to years of financial underperformance and strategic failures. They have nominated three independent candidates for the board elections, citing a $1 billion in idle real estate and ineffective corporate strategy as key issues. The Investor Group urges shareholders to vote using the BLUE Proxy Card to foster a credible operating plan and explore value creation alternatives amid increasing interest from potential buyers.

SpartanNash has filed definitive proxy materials with the SEC regarding its Annual Meeting on June 9, 2022. The company emphasizes its successful transformation, reporting a total shareholder return of 251% since the management team's transition in mid-2019 and an 88% increase since CEO Tony Sarsam's appointment in September 2020. The letter urges shareholders to vote for its nine qualified director nominees on the WHITE proxy card, arguing that the Investor Group's short-term agenda may jeopardize the company's long-term value.