SpartanNash Sees Modest Growth in Q2 Revenue

SpartanNash reported modest revenue gains in the second quarter as the company saw growth in its wholesale and retail segments.

For the quarter ended July 15, company-wide net sales were $2.31 billion, up 1.7% from the comparable quarter the previous year. Net earnings were $19.5 million, up from net earnings of $5.1 million in the second quarter of 2022. Retail comparable sales were up 3.9%.

"Our team delivered solid results in the first half of 2023, leveraging transformational initiatives for growth and value. We are encouraged by the success to date, but also believe there is a long runway of benefits that will help us achieve our long-term strategic plan," said Tony Sarsam, president and CEO of SpartanNash. "We are now entering the next phase of our transformation, bolstering our go-to-market strategy and building on our Signature Strength of being the most customer-focused, innovative food solutions company."

Net sales for the company’s wholesale division increased $31.9 million, or 2.0%, to $1.63 billion from $1.6 billion in the prior year quarter. The growth in net sales was due primarily to the inflationary impact on pricing in the quarter partially offset by marketplace demand changes from a certain national account.

Net sales in SpartanNash’s retail segment, which includes 144 brick-and-mortar grocery stores, in addition to pharmacies and fuel centers, increased $6.6 million, or 1.0%, to $679.0 million from $672.4 million in the prior year quarter. Retail comparable store sales grew 3.9% for the quarter, due primarily to the inflationary impact on pricing. Additionally, lower fuel prices in the quarter reduced reported net sales by 2.0%.