SpartanNash Company (NASDAQ: SPTN), a leading food solutions company, saw its stock price surge 5.63% in pre-market trading on Wednesday as the company reported impressive fourth quarter 2024 results that exceeded analysts' expectations.
For the 12-week fourth quarter ended December 28, 2024, SpartanNash reported:
The strong fourth quarter results were driven by higher gross margin rates in both the Wholesale and Retail segments, including benefits from SpartanNash's merchandising transformation initiatives. The company also benefited from increased sales from recently acquired retail stores, partially offset by lower case volumes within the Wholesale segment.
Looking ahead, SpartanNash provided a robust fiscal 2025 outlook, with expected adjusted EPS in the range of $1.60 to $1.85, compared to $2.03 in fiscal 2024. The company's guidance incorporates investments in long-term strategic initiatives, including transformational programs and tuck-in acquisitions.
SpartanNash's President and CEO, Tony Sarsam, expressed pride in the company's progress and momentum, stating, "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."
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