This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
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
TheStreet Open House

SpartanNash Announces Financial Results For The 15-Week Third Quarter And 39-Week Fiscal 2013 Transition Year

SpartanNash Company (the “Company”) (Nasdaq: SPTN) today reported financial results for the 15-week third quarter and the 39-week period ended December 28, 2013 (“Transition Period”).

The Transition Period reflects the previously announced change in the Company’s fiscal year end from the last Saturday in March to the Saturday closest to December 31. As a result, the third quarter included 15 weeks and the Transition Period included 39 weeks, compared to 16 weeks and 40 weeks for the respective reporting periods in the prior year. For purposes of reporting comparable store sales, the Company used comparable 15-week and 39-week periods for its legacy Spartan Stores retail operations. In addition, the Transition Period includes approximately six weeks of financial results from The Nash Finch Company (“Nash Finch”) as a result of the recent merger of Spartan Stores and Nash Finch, completed on November 19, 2013.

Third Quarter Results

Consolidated net sales for the 15-week third quarter increased 69.1 percent 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 percent 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 percent.

Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (Adjusted EBITDA) for the quarter increased 65.9 percent to $41.6 million, or 3.1 percent of net sales, compared to $25.1 million, or 3.2 percent 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 percent in the third quarter of fiscal 2014.

1 of 12

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

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
Stocks Under $10

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

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
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

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

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
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!
SYM TRADE IT LAST %CHG

Markets

DOW 17,712.66 +34.43 0.19%
S&P 500 2,061.02 +4.87 0.24%
NASDAQ 4,891.2190 +27.8570 0.57%

Partners Compare Online Brokers

Free Reports

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