This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nash Finch Reports Third Quarter 2012 Results

Nash Finch Company (NASDAQ:NAFC), one of the leading food distribution companies in the United States, today announced financial results for the sixteen weeks (third quarter) ended October 6, 2012.

Financial Results

Total Company sales for the third quarter 2012 were $1.50 billion compared to $1.47 billion in the prior-year quarter, an increase of 1.7%. The acquisition of eighteen No Frills® stores during the third quarter of 2012 and twelve Bag ‘N Save® stores during the second quarter of 2012 contributed to a net increase in total Company sales of $47.2 million, which is comprised of a $104.3 million increase in Retail segment sales being partially offset by a $57.1 million decrease in Food Distribution segment sales that are now reported in the Retail segment. After adjusting for these acquisitions, total Company third quarter comparable sales decreased 1.4% relative to the prior year period.

Adjusted Consolidated EBITDA 2 was $43.8 million, or 2.9% of sales in the third quarter of 2012 as compared to $45.9 million, or 3.1% of sales in the third quarter of 2011. Consolidated EBITDA was adjusted to exclude the impact of significant items totaling $4.1 million and $3.3 million in the third quarter 2012 and 2011, respectively. Including the impact of significant items, Consolidated EBITDA for the third quarter 2012 was $39.7 million, or 2.7% of sales, as compared to $42.6 million, or 2.9% of sales, in the prior year quarter.

“We are proud to have been recognized by Store Brands magazine as “Wholesaler of the Year” based on our new private label marketing program and the benefits that program offers to our participating retail customers. Our gross margins were negatively impacted in the quarter as a result of our investment in this and other marketing programs which are starting to drive higher case volume,” said Alec Covington, President and CEO of Nash Finch. “Our gross margin was also negatively impacted during the quarter by lower food price inflation, offset by lower incentive plan expenses as compared to the same period last year. We continue our focus on sales growth, managing working capital and implementing cost reduction strategies to benefit us in the longer term.”

1 of 7

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,943.81 +28.74 0.17%
S&P 500 1,967.57 +2.89 0.15%
NASDAQ 4,415.49 +19.2860 0.44%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs