SpartanNash Revenue Flat In Q4
Fourth quarter company-wide net sales at SpartanNash were up slightly as a decrease in its Wholesale segment was offset by growth in its Retail division.
For the quarter ended December 28, total net sales increased 0.7% to $2.26 billion. Wholesale segment sales were down 2.1% to $1.56 billion, and Retail segment sales were up 7.7% to $697.1 million. The decline in Wholesale sales was attributed to reduced case volumes among independent retailers and national account customers. The growth on the Retail side was driven by incremental sales from stores acquired in fiscal year 2024.
Net loss in the quarter was $1.04 per diluted share, compared to net earnings of $0.30 per diluted share. Adjusted EBITDA was $58.6 million, compared to $53.6 million in the comparable quarter the previous year.
"I am incredibly proud of the progress the team made on our strategic plan in 2024, achieving our third consecutive year of record adjusted EBITDA, bolstered by the delivery of our margin-enhancing programs a year ahead of schedule," said Tony Sarsam, president and CEO of SpartanNash. "We are energized by the momentum going into 2025, especially as we integrate the recently acquired grocery and c-store businesses – Fresh Encounter and Markham – into our retail portfolio. We are also investing into organic growth, fueled by a continued focus on our transformational initiatives, which are expected to further drive results, capture additional cost savings, enhance margin, and maximize long-term shareholder value."
For the full fiscal year, net sales decreased 1.9% to $9.55 billion. Wholesale segment net sales decreased 3% to $6.71 billion while retail segment net sales increased 1.1% to $2.84 billion. Comparable store sales decreased 1.7%. Full-year net earnings were $0.01 per diluted share compared to $1.50 per diluted share in the prior fiscal year.
