Thu, Aug 15, 8:13 PM (152 days ago)
For the second quarter ending July 13, 2024, SpartanNash Company reported a 3.5% decline in net sales to $2.23 billion, primarily due to decreased volumes in both its Wholesale and Retail segments. Net earnings fell to $11.5 million ($0.34 per diluted share) from $19.5 million ($0.57 per diluted share) in the prior year, impacted by higher restructuring charges and lower sales volumes. Adjusted EPS was $0.59, down from $0.65. Cash flow from operations significantly improved, totaling $132.1 million, reflecting enhanced working capital management. The company's long-term debt to adjusted EBITDA ratio improved to 2.2x. Capital expenditures rose to $73.4 million, aligning with strategic investments. Despite uncertainties from inflation and consumer demand shifts, SpartanNash anticipates that its supply chain and merchandising initiatives will drive future growth. The company maintains a solid liquidity position with $449.6 million in excess availability under its credit facility, supporting ongoing operations and shareholder returns through dividends and repurchases.