Last $22.46 USD
Change Today +0.12 / 0.54%
Volume 156.2K
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As of 8:10 PM 04/15/14 All times are local (Market data is delayed by at least 15 minutes).

spartan stores inc (SPTN) Snapshot

Open
$22.49
Previous Close
$22.34
Day High
$22.75
Day Low
$22.12
52 Week High
01/13/14 - $25.74
52 Week Low
05/1/13 - $16.10
Market Cap
848.7M
Average Volume 10 Days
184.9K
EPS TTM
$1.51
Shares Outstanding
37.8M
EX-Date
03/12/14
P/E TM
14.8x
Dividend
$0.48
Dividend Yield
1.74%
Current Stock Chart for SPARTAN STORES INC (SPTN)

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spartan stores inc (SPTN) Details

Spartan Stores, Inc. operates as a grocery distributor and retailer primarily in the United States. The company operates in three segments: Military, Food Distribution and Retail. The Military segment sells and distributes grocery products to military commissaries and 400 exchanges located in 38 states in the United States and the District of Columbia, Europe, Puerto Rico, Cuba, the Azores, Egypt, and Bahrain. The Distribution segment provides approximately 50,000 stock-keeping units, including dry groceries, produce, dairy products, meat, deli, bakery, frozen food, seafood, floral products, general merchandise, pharmacy, and health and beauty care items to approximately 1,900 independent retail locations and corporate-owned retail stores located in 24 states in the United States. It also provides value-added services to independent distribution customers. The Retail segment operates 172 retail supermarkets in the Midwest primarily under the Family Fare Supermarkets, No Frills, Bag ‘N Save, Family Fresh Markets, D&W Fresh Markets, Sun Mart, and Econo Foods, as well as several other brands; and 34 fuel centers that offers refueling facilities, as well as immediately consumable products under the Family Fare Quick Stop, D&W Quick Stop, Glen’s Quick Stop, VG’s Quick Stop, Forest Hills Quick Stop, FTC Express Fuel, and Sunmart Express Fuel names. Its retail supermarkets offer dry groceries, produce, dairy products, meat, frozen food, seafood, floral products, general merchandise, beverages, tobacco products, health and beauty care products, delicatessen items, and bakery goods, as well as pharmacy services. This segment also provides private brand items, including its Spartan, Spartan Fresh Selections, Our Family, IGA, Piggly Wiggly, Fresh Selections, Top Care, Tippy Toe, Valu Time, Full Circle, Nash Brothers Trading Company, World Classics, Paws, and B-leve. The company was founded in 1917 and is headquartered in Grand Rapids, Michigan.

8,800 Employees
Last Reported Date: 03/12/14
Founded in 1917

spartan stores inc (SPTN) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $766.0K
Chief Financial Officer and Executive Vice Pr...
Total Annual Compensation: $429.9K
Chief Legal Officer and Executive Vice Presid...
Total Annual Compensation: $370.8K
Executive Vice President of Retail Operations
Total Annual Compensation: $324.6K
Executive Vice President of Food Distribution
Total Annual Compensation: $317.0K
Compensation as of Fiscal Year 2013.

spartan stores inc (SPTN) Key Developments

Spartan Stores Inc. Proposes Amendment to the Articles of Incorporation

Spartan Stores Inc. announced that at the annual general meeting to be held on May 28, 2014, the board proposes amendment to the articles of incorporation to change the name of the company from 'Spartan Stores Inc.' to 'SpartanNash Company'.

Spartan Stores Inc. Announces Unaudited Consolidated Earnings Results for the Fifteen Week Third Quarter and Thirty-Nine Week Fiscal 2013 Transition Year Ended December 28, 2013; Provides Earnings Guidance for the Sixteen Week First Quarter of Fiscal 2014 and Fifty-Three Week Fiscal Year Ending January 3, 2015

Spartan Stores Inc. announced unaudited consolidated earnings results for the fifteen week third quarter and thirty-nine week fiscal 2013 transition year ended December 28, 2013. For the fifteen weeks, net sales were $1,335,354,000 against $789,880,000 a year ago. Net sales increased primarily due to $563.2 million in sales generated as a result of the merger, comparable store sales increase of 0.7% and the impact of new distribution customers, partially offset by $46.1 million in sales for the extra week in last year’s quarter. Operating loss was $11,207,000 against operating profit of $11,547,000 a year ago. Loss before income taxes and discontinued operations was $21,480,000 against profit before income taxes and discontinued operations of $5,092,000 a year ago. Loss from continuing operations was $13,670,000 or $0.49 per basic and diluted share against profit from continuing operations of $3,472,000 or $0.16 per basic and diluted share a year ago. Net loss was $13,992,000 against or $0.50 per basic and diluted share against net profit of $3,400,000 or $0.16 per basic and diluted share a year ago. Adjusted EBITDA was $41,573,000 against $24,291,000 a year ago. Adjusted operating earnings were $22,726,000 against $11,187,000 a year ago. Adjusted earnings from continuing operations were $11,140,000 or $0.40 per share against $4,856,000 or $0.22 a year ago. For the thirty-nine weeks, net sales were $2,597,230,000 against $2,015,351,000 a year ago. Operating profit was $16,793,000 against $42,208,000 a year ago. Profit before income taxes and discontinued operations were $2,070,000 against $30,255,000 a year ago. Profit from continuing operations was $1,229,000 or $0.05 per basic and diluted share against $19,903,000 or $0.91 per basic and diluted share a year ago. Net earnings were $741,000 against or $0.03 per basic and diluted share $19,708,000 or $0.90 per basic and diluted share a year ago. Net cash provided by operating activities was $64,761,000 against $27,926,000 a year ago. Adjusted EBITDA was $97,303,000 against $75,925,000 a year ago. Adjusted operating earnings were $57,187,000 against $42,312,000 a year ago. Adjusted earnings from continuing operations were $29,801,000 or $1.23 per share against $20,467,000 or $0.94 a year ago. Total net long-term debt was $595.7 million as of December 28, 2013, versus $162 million at the end of the third quarter last year, due to the incurrence of $436.1 million in debt as a result of the merger and the acquisition of 2 supermarkets, offset by the positive cash flow from operations For the sixteen week first quarter of fiscal 2014, the company anticipated that its consolidated net sales will increase to between $2.30 billion and $2.34 billion as it continues to benefit from the merger with Nash Finch, partially offset by the impact of store closures. The company anticipates comparable store sales in its legacy retail segment will be positive for the third consecutive quarter. Adjusted EBITDA will be in the range of $62.5 million to $66.5 million and adjusted earnings per diluted share from continuing operations will be in the range of $0.33 to $0.38. For the fifty-three week fiscal year ending January 3, 2015, the company anticipated that consolidated net sales will increase to between $7.90 billion and $8.04 billion, Adjusted EBITDA will be in the range of $230.0 million to $239.0 million and earnings per share from continuing operations will be approximately $1.65 to $1.75, excluding integration costs of approximately $7.4 million after tax and any other one-time expenses. The company expects that reported retail comparable store sales will be positive for the year. However, total sales will be negatively impacted by approximately $50.0 million resulting from the store closures occurring in the third quarter of the Transition Period. Capital expenditures are expected to be in the range of $77.0 million to $82.0 million. In addition, the company expects reported retail comparable store sales will be positive for the year. However, total sales will be negatively impacted by approximately $50 million resulting from the store closures occurring in the third quarter of the transition period. The company expects that capital expenditures for fiscal year 2014 will be in the range of $77 million to $82 million with depreciation and amortization in the range of $89 million to $93 million and total interest expense in the range of $26 million to $28 million.

SpartanNash Company Reports Unaudited Consolidated Earnings Results for the Fifteen Weeks and Thirty Nine Weeks Ended December 28, 2013; Provides Earnings Guidance for the Sixteen Week First Quarter of Fiscal 2014 and Fifty Three Week Fiscal Year Ending January 3, 2015

SpartanNash Company reported unaudited consolidated earnings results for the fifteen weeks and thirty nine weeks ended December 28, 2013. Consolidated net sales for the 15-week third quarter increased 69.1% to $1.3 billion compared to $789.9 million in the 16-week quarter last year, primarily due to $563.2 million in sales generated as a result of the merger, comparable store sales increase of 0.7% and the impact of new distribution customers, partially offset by $46.1 million in sales for the extra week in last year's quarter. Excluding the impact of the extra week last year and contributions from the merger, consolidated net sales would have increased approximately 3.8%. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) for the quarter increased 65.9% to $41.6 million, or 3.1% of net sales, compared to $25.1 million, or 3.2% of net sales in the 16-week quarter last year. Excluding the impact of the extra week last year and contributions from the merger, Adjusted EBITDA would have increased approximately 6.2% in the third quarter of fiscal 2014. Adjusted earnings from continuing operations were $11.1 million, or $0.40 per diluted share, for the current year third quarter compared to $4.9 million, or $0.22 per diluted share, last year. Net long-term debt (including current maturities and capital lease obligations and subtracting cash) for the Company was $595.7 million as of December 28, 2013 compared to $162.0 million at the end of the third quarter last year, due primarily to the incurrence of $436.1 million in debt as a result of the Nash Finch merger. Operating loss was $11.207 million against operating income of $11.547 million a year ago. Loss from continuing operations was $13.670 million or $0.49 per diluted share against income from continuing operations of $3.472 million or $0.16 per diluted share a year ago. Net loss was $13.992 million or $0.50 per diluted share against net earnings of $3.400 million or $0.16 per diluted share a year ago. Adjusted operating earnings were $22.726 million against $11.187 million a year ago. Adjusted earnings from continuing operations were $11.140 million or $0.40 per diluted share against $4.856 million or $0.22 per diluted share a year ago. For the 39-week period ended December 28, 2013, consolidated net sales increased 28.9% to $2.6 billion, including $563.2 million in sales generated as a result of the recent merger with Nash Finch, compared to $2.0 billion in the 40-week period ended January 5, 2013. Comparable store sales, excluding fuel, decreased 0.6% in the Transition Period on a 39-week basis. Excluding the impact of the extra week last year and contributions from Nash Finch, consolidated net sales would have increased approximately 3.3%. Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) for the Transition Period increased 26.9% to $97.3 million, or 3.8% of net sales, compared to $76.7 million, or 3.7% of net sales, in the 40-week quarter last year. Excluding the impact of the extra week last year and contributions from Nash Finch, Adjusted EBITDA would have increased approximately 7.4% in the Transition Period. Transition Period adjusted earnings from continuing operations were $29.8 million, or $1.23 per diluted share, excluding net after-tax charges of $28.6 million related to previously mentioned items, compared to $20.5 million, or $0.94 per diluted share in the prior year-to-date period, excluding $0.3 million in net earnings from the extra week and net after-tax charges of $0.9 million related to debt extinguishment, asset impairment, professional fees, gain on sale of assets and a tax benefit. Operating income was $16.793 million against operating income of $42.208 million a year ago. Earnings from continuing operations was $1.229 million or $0.05 per diluted share against $19.903 million or $0.91 per diluted share a year ago. Net earnings were $0.741 million or $0.03 per diluted share against net earnings of $19.708 million or $0.90 per diluted share a year ago. Net cash provided by operating activities was $64.761 million against $27.296 million a year ago. Adjusted operating earnings were $57.187 million against $42.312 million a year ago. Adjusted earnings from continuing operations were $29.801 million or $1.23 per diluted share against $20.467 million or $0.94 per diluted share a year ago. For the sixteen week first quarter of fiscal 2014, the Company anticipates that its consolidated net sales will increase to between $2.30 billion and $2.34 billion as it continues to benefit from the merger with Nash Finch, partially offset by the impact of store closures. The Company anticipates comparable store sales in its legacy retail segment will be positive for the third consecutive quarter. The Company expects first quarter of fiscal 2014 Adjusted EBITDA will be in the range of $62.5 million to $66.5 million and adjusted earnings per diluted share from continuing operations will be in the range of $0.33 to $0.38, based on approximately 37.7 million shares outstanding. This guidance includes approximately $3.8 million in after-tax merger synergy benefits and $2.8 million in after-tax incremental depreciation, amortization and stock compensation expense related to the step-up in basis of the Nash Finch assets and amendments to the Company's stock compensation plan and excludes approximately $3.4 million in after-tax integration expenses and $1.3 million in after-tax restructuring charges associated with store closures and the closure of the Cincinnati, Ohio distribution center. For the fifty three week fiscal year ending January 3, 2015, the Company anticipates that consolidated net sales will increase to between $7.90 billion and $8.04 billion, Adjusted EBITDA will be in the range of $230.0 million to $239.0 million and earnings per share from continuing operations will be approximately $1.65 to $1.75, excluding integration costs of approximately $7.4 million after tax and any other one-time expenses. These results will be accretive to the trailing 13-period earnings for Spartan Stores on a standalone basis. The Company expects that reported retail comparable store sales will be positive for the year. However, total sales will be negatively impacted by approximately $50.0 million resulting from the store closures occurring in the third quarter of the Transition Period. Capital expenditures for fiscal year 2014 are expected to be in the range of $77.0 million to $82.0 million, with depreciation and amortization in the range of $89 million to $93 million and total interest expense in the range of $26.0 million to $28.0 million.

 

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