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I am loving it! Ching ching ching! SPTN is a monster!
Hitting record highs SPTN got go back to 2008 to see it higher....
Ah its nice out finally. .. The early spring will boost sales for grocery. ...
Yes, man, it's been a great new year!
Yep it sure is Nash was a great asset to Spartan...
Looks like money to me:)
8k out just glanced at it looks good everything is up in sales and all... What do you think????
That's what I am thinking!
Another increase I dividend SPTN.... HUMMMMM must be doing well...
I know, man, I need a heavy market down day to force it's hand. One is due.
Doesn't look like it's going to happen. ...
I need 25.50 or less so I can load from those profits.
Looking forward to it. Man I made HUGE bank in the last 2 weeks off of CAPN and GENE. I look to continue the climb to $30 here!
Earnings March 3, 2015...
It sure is SPTN looking very nice... St Cloud distribution real busy lately for the holidays. ..
Man I've been killin' in December. Bought 2 big blocks of NE, one near it's 52 week low. My SPTN up big and heading to 30 by March!
I sold a big block and bought NE and BBEP with it. Risk/Reward seems leveraged.
Another high for SPTN....
Bling bling
SPTN up 4.5%....
SPTN looking fantastic big day today. ...
Yep next week...
Yep nice GREEN today...
Yeah, above this area is where Nash Finch holders would still make a profit if it they sold. Any lower and not so much. It's only a matter of time until this sees $25 and stays there.
It's held quite well. ...
I've loaded a boatload, bring on the pop!
November 5, 2014 Earnings report SPTN.....
Yeah, I've been on a HUGE project and even though I work from home on my computer, I still haven't been able to check! After the merger it can only trade at 12x earnings for so long.
Looks like SPTN is hanging tough right in between the 50 and 200 ma...I
The future is bright, they guided down q3, but the eoy looks nice. We shall see. If they beat next q things should get interesting.
Part of that might have to do with the markets reacting to do with the Russian crap... Will just have to see if it trades lower or not daily rsi is 41 and I see some accumulation has dropped. .. I thought it was pretty good report o though I had one of my stocks dropped 20% and had record revenue coming in and quarters more... The market Is a manipulator for sure... Busy season has ended for the summer the peak was around july 4 for grocery untill about two to three weeks before thanksgiving all the way up thru christmas ... The local produce and harvest pulls some sales out of the grocery market and kids going back to school... I dont think it would drop to much but I have been wrong before... SPTN is good growing company from the Nash merge for the future imo...
This thing is trading around am 11 p/e, eventually it will get some love!
Not bad SPTN...
Second Quarter Results
Consolidated net sales for second quarter increased 178.0 percent to $1.8 billion compared to $651.1 million last year, primarily due to $1.2 billion in sales generated as a result of the November 2013 merger with Nash Finch Company (“Nash Finch”).
Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) for the quarter increased 97.8 percent to $58.3 million, or 3.2 percent of net sales, compared to $29.5 million, or 4.5 percent of net sales last year. Adjusted EBITDA is a non-Generally Accepted Accounting Principles (GAAP) financial measure. Please see the financial tables at the end of this press release for a reconciliation of Adjusted EBITDA to net earnings, and a reconciliation of each non-GAAP financial measure to the most directly comparable measure prepared and presented in accordance with GAAP.
Reported operating earnings increased 115.3 percent to $32.6 million compared to $15.2 million for the prior year quarter, primarily due to contributions from the merger with Nash Finch. These benefits were partially offset by the impact of low inflation, increased integration, restructuring and asset impairment charges, additional LIFO expense and a pension settlement accounting charge.
We are pleased to have exceeded our adjusted earnings guidance for the second quarter,” stated Dennis Eidson, SpartanNash’s President and Chief Executive Officer. “The earnings upside was driven primarily by continued favorable synergy realization and our retail segment. While the quarter started off slowly due to the later timing of Easter, sales trends improved as the quarter progressed and the retail division achieved positive comparable store sales over the back half of the second quarter despite some softening in the consumer environment. We have also made significant progress with our merger integration efforts and remain committed to providing excellent service and value to all of our retail, food distribution and military customers.”
Gross profit margin for the second quarter was 14.7 percent compared to 20.5 percent in the prior year. The change in gross profit margin rate primarily reflects the change in segment mix of our operations due to the merger and the impact of continued low inflation.
Second quarter operating expenses would have been $229.1 million, or 12.7 percent of net sales, compared to $114.9 million, or 17.6 percent of net sales, in the same quarter last year, if the charges related to the merger, integration, asset impairment and restructuring were excluded in both periods. The higher expenses were due to the inclusion of Nash Finch’s operations and the decrease in the rate to sales was due primarily to the change in mix of the Company’s segments. Reported operating expenses were $232.7 million, or 12.9 percent of sales, compared to $118.3 million, or 18.2 percent of sales, in the second quarter last year.
Food Distribution Segment
Net sales for the food distribution segment increased 182.4 percent to $767.9 million in the second quarter from $271.9 million for the second quarter last year. The increase in sales was due to $501.4 million in sales from Nash Finch, partially offset by the negative effect of the change in timing of the Easter holiday and the reduction to the Supplemental Nutrition Assistance Program (SNAP).
Second quarter adjusted operating earnings for the distribution segment were $14.0 million, excluding $2.9 million of pre-tax merger integration expenses and restructuring charges, compared to adjusted operating earnings of $9.1 million, excluding $2.4 million of pre-tax merger expenses, in the same period last year. The benefit from the sales volume of Nash Finch’s distribution operations was partially offset by the step-up in depreciation expense resulting from the revaluation of assets acquired in the merger, higher LIFO expense and lower inflation-related gains. Adjusted operating earnings is a non-GAAP operating financial measure. Reported operating earnings were $11.1 million compared to operating earnings of $6.8 million in the prior year second quarter.
Retail Segment
Net sales for the retail segment increased 42.4 percent to $539.8 million in the second quarter from $379.2 million for the second quarter last year, primarily due to $184.9 million in sales generated as a result of the merger and new and remodeled stores. Comparable store sales, excluding fuel, were flat to the prior year, primarily due to the later timing of Easter, which adversely affected the results by approximately 80 basis points and the impact of the cutbacks in SNAP benefits. In addition, retail sales reflect $17.1 million in fewer sales due to the store closures.
Second quarter adjusted operating earnings for the retail segment were $15.5 million, excluding $0.7 million of the non-cash pre-tax restructuring charges related to closed stores, compared to adjusted operating earnings of $9.4 million in the same period last year, excluding non-cash, pre-tax asset impairment charges of $1.0 million. The improvement in adjusted operating earnings was primarily due to the merger with Nash Finch’s retail operations. Reported operating earnings in the retail segment were $14.8 million compared to $8.4 million in the prior year quarter.
During the second quarter, the Company completed three major remodels and began construction on two new stores. Additionally, two supermarkets were sold to distribution customers and one underperforming supermarket was closed. SpartanNash ended the quarter with 166 corporate owned stores and 30 fuel centers.
Outlook
Mr. Eidson continued, “As we look to the second half of the year, we remain optimistic that we are in a position to deliver our sales and earnings outlook for fiscal 2014, despite the lack of non-perishable inflation, negative impact of the reduction in SNAP benefits and competitive openings. We will continue to invest in the consumer experience by completing five major remodels and re-banners and opening one new store in West Lafayette, Indiana. Additionally, we are taking steps to roll out pricing and promotional plans to stores acquired in the merger with Nash Finch and to leverage our distribution competencies and platform to increase business with existing customers and to drive new business. We are focused on enhancing efficiencies across all segments of the company and are beginning to realize significant synergies in sourcing, distribution and back-office functions. We continue to be confident in our ability to achieve, and likely exceed, our $52 million synergy target and to identify new opportunities to deliver value to our shareholders.”
For the third quarter of fiscal 2014, the Company anticipates that net earnings from continuing operations per diluted share will be at, or slightly below, last year’s comparable third quarter results of $0.43 per diluted share, excluding merger integration costs and any other one-time expenses. For fiscal 2014, the Company is maintaining its previously issued guidance of consolidated net sales in the range of $7.90 billion to $8.04 billion, Adjusted EBITDA in the range of $230.0 million to $239.0 million and is narrowing the range of earnings per share from continuing operations to approximately $1.70 to $1.75, excluding integration costs of approximately $7.4 million after tax and any other one-time expenses.
The Company continues to expect capital expenditures for fiscal year 2014 to be in the range of $77.0 million to $82.0 million, with depreciation and amortization now in the range of $87.0 million to $91.0 million and total interest expense now in the range of $24.0 million to $25.0 million.
As a reminder, the fiscal year ending January 3, 2015 will consist of 53 weeks with the fourth quarter comprised of 13 weeks. Furthermore, the Company’s fiscal year end was changed from the last Saturday in March to the Saturday nearest to December 31, effective beginning with the transition period ended December 28, 2013. The prior year financial statements were recast to the new fiscal year format based upon the original fiscal period end dates. As a result, the period end date for the prior year financial statements differs from the current year by one week and the comparable prior year will consist of 51 weeks with the fourth quarter comprised of 11 weeks.
Really not bad quarter even though they guided down. We'll see, I made some serious bank off of REED though!
Yea not much sells.... I been watching the grocery in general in the Midwest things look busy up here... I also follow the competition like svu there busy too... I think earnings should be good this quarter. .. I will try to update the intro on the board here and glty...
Interesting, not any sells since 5-27 and most of those were probably from 90 day restricted from the Nash-Finch merger. Now we wait. Tick, tick, tick
Lol yea I hope ya do well... I haven't got in yet .. Probably my luck it will take off Lol...
I've loaded almost 2k shares, it'll either be genius or foolish! lol
August 13 earnings SPTN...
I would like to see that 19ish 20ish range than I would load up..
http://stockcharts.com/c-sc/sc?s=SPTN&p=D&b=5&g=0&i=t10340464813&r=1406315060565
Every dip I am loading more and more. Soon the gains will be a wind fall!
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For decades, Spartan Stores and Nash Finch Company have separately served the needs of independent grocery stores, top-flight supermarkets, value-seeking consumers and military families. Then, on July 22, 2013, they announced they would merge into one company.
The merger was completed on November 19, 2013, under the new name SpartanNash. This name represents a combination of the best of two companies that have brought together complementary capabilities and culture for the benefit of consumers and partners.
Now, everything you respect and valued about them is in one package. Economies of scale with a local touch.
This is SpartanNash.
Spartan Stores was first known as Grand Rapids Wholesale Grocery Company when it formed as a food wholesale cooperative in 1917. The resilience of the company was tested early on, but by the mid-1920s, it was a firmly-established business, posting a sales volume of $800,000 and above. The company actually grew in size and sales through the Depression and World War II, emerging with $10 million in sales in 1949.
By the late 1950s, the company had changed its name to Spartan Stores, Inc. and continued growing. Spartan had spread across the state of Michigan, expanded the business through acquisitions and added new lines of products to meet the demands of consumers. The company hit its first year at $100 million in sales in 1964 and hit $1 billion less than 20 years later in 1982. By 1991, sales were at $2 billion.
In 2000, Spartan stock became publicly traded on the NASDAQ National Market. Throughout the rest of the 2000s, Spartan continued expansion, particularly in the supermarket segment, adding 53 stores during this period.
Nash Finch began as a small confectionary store in Devil’s Lake, North Dakota in 1885. The Nash brothers quickly expanded their business into wholesale fruit. By 1912, they were in the fruit growing business as well and continuing to expand. They moved the business to Minneapolis, MN, in 1919 and adopted the name The Nash Finch Company in 1921.
After lean years during the Depression and World War II, the company hit the ground running in the 1950s, supporting the new supermarket segment while continuing to service the independent grocery market as a food distributor. Nash Finch got into the supermarket business itself in 1954 and began innovating in that market directly. By 1983, Nash Finch stock was being traded on the NASDAQ.
Nash Finch began expanding into the military sector through supplying commissaries and exchanges in 1992 and solidified that foothold with the purchase of Military Distributors of Virginia in 1995. Throughout the 90s and 2000s, Nash Finch sought to find innovative ways to serve its customers, both civilian and military.
SpartanNash (Nasdaq: SPTN) is a Fortune 500 company and the largest food distributor serving military commissaries and exchanges in the United States, in terms of revenue. The Company’s core businesses include distributing food to military commissaries and exchanges and independent and corporate-owned retail stores located in 44 states and the District of Columbia, Europe, Cuba, Puerto Rico, the Axores, Bahrain and Egypt. SpartanNash operates 166 retail stores, including Bag ‘n Save, D&W Fresh Markets, Econofoods, Family Fare Supermarkets, Family Fresh Market, Family Thrift Center, Forest Hills Foods, Glen’s Markets, No Frills, Sun Mart, Supermercado Nuestra Familia, Valu Land, and VG’s Food and Pharmacy. Read less
SPTN Common Stock
Transfer AgentComputershare | Corporate CounselWarner Norcross & Judd LLP | Independent AccountantsDeloitte & Touche LLP |
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