Spartannash Co Stock Price, News & Analysis

SpartanNash (Nasdaq: SPTN), a food solutions company, has been recognized with several national workplace awards in 2024, highlighting its exceptional culture and benefits. The awards include:

• Newsweek: America's Greatest Workplaces 2024, for Diversity, and for Job Starters.
• Great Place to Work: Certification for the second consecutive year.
• U.S. News & World Report: Best Companies to Work For overall, in the Midwest, and in the Personal Care, Drug, and Grocery Stores category.
• Best & Brightest: 11th consecutive year as a Best & Brightest Company to Work For in The Nation and 5th consecutive year as one of The Nation's Best & Brightest in Wellness.

SpartanNash's 17,000 Associates benefit from flexible paid time off, parental leave, professional development programs, and more. Over 90% of Associates deem it a safe workplace, with 81% proud of their affiliation. Young professionals engage through the Early in Career Program and a highly-rated internship program. For more, visit careers.spartannash.com.

SpartanNash (NASDAQ: SPTN) recently held its largest-ever Helping Hands Day volunteer event at the DeVos Place convention center in Grand Rapids. Approximately 700 associates packed 15,000 boxes containing over 500,000 meals and 5,000 hygiene kits, worth about $1.2 million, for disaster relief nonprofit Convoy of Hope. Additionally, SpartanNash Foundation donated $100,000 to Convoy of Hope. The event aimed to support families affected by natural disasters, reflecting the company's mission to provide quality nutrition during crises. Numerous suppliers contributed to the donations, which will be swiftly distributed to affected areas.

SpartanNash announced the appointment of Graham McIvor as Vice President, Merchandising and Pharmacy, effective immediately. McIvor's role will enhance the company's merchandising transformation and drive strategic changes in its pharmacy business. The hire reflects SpartanNash's ongoing commitment to growth and value creation for its customers. McIvor brings extensive industry experience from roles at Big Lots, Dollar Tree, and Family Dollar, and holds degrees from the University of Virginia and the University of Texas at Austin.

SpartanNash (Nasdaq: SPTN) reported first quarter fiscal 2024 results, showing a 3.5% decline in net sales to $2.81 billion, attributed to lower volumes in both the Wholesale and Retail segments. Wholesale segment sales decreased 3.4% to $2.01 billion, while Retail segment sales fell 3.6% to $792.2 million. Net earnings were $0.37 per diluted share, compared to $0.32 last year, driven by an improved gross profit rate. Adjusted EPS was $0.53, down from $0.64. Adjusted EBITDA was $74.9 million, compared to $76.8 million. The company generated $36.5 million from operating activities and increased capital expenditures to $44.1 million. SpartanNash reaffirmed its fiscal 2024 profitability guidance, projecting net sales between $9.5 billion and $9.7 billion, adjusted EBITDA of $255 million to $270 million, and adjusted EPS of $1.85 to $2.10.

SpartanNash, a food solutions company, has announced the approval of a quarterly cash dividend of $0.2175 per common share by its Board of Directors on May 22, 2024. The dividend will be disbursed on June 28, 2024, to shareholders recorded by the close of business on June 14, 2024. As of May 21, 2024, the company had 33,953,593 common shares outstanding.

SpartanNash (Nasdaq: SPTN) announced its annual SpartanNash Foundation in-store fundraiser, which will run from May 22 to June 2, 2024. The campaign supports military and disaster relief non-profit organizations such as Honor and Remember, Operation Homefront, and Convoy of Hope. Shoppers can donate at SpartanNash-operated stores by contributing $1, $5, $10, or rounding up their total at checkout, with online donations also available. Since 2015, the SpartanNash Foundation has raised over $2.3 million for humanitarian and patriotic causes. Funds from this year's campaign will be evenly distributed among the three non-profits to aid in disaster response, honor fallen service members, and support military families.

SpartanNash (Nasdaq: SPTN) will release its first quarter 2024 financial results on May 30, 2024, before the market opens. The results cover the 16-week period ending April 20, 2024.

A conference call to discuss these results is scheduled for May 30, 2024, at 8:30 a.m. ET, with a simultaneous webcast available on the SpartanNash website. The webcast will remain accessible until June 13, 2024. A supplemental earnings presentation will also be available online.

SpartanNash, a food solutions company, expands its Our Family® Scholarship program, offering $2,500 scholarships to 30 community-engaged students. The program aims to recognize students making a difference in their communities and is open to residents in states served by SpartanNash-owned stores. The scholarships can be used for undergraduate, graduate, or vocational education, with applications accepted until August 31, 2024.