SpartanNash Q2 2024 Earnings Report
Key Takeaways
SpartanNash reported a decrease in net sales by 3.5% to $2.23 billion due to lower volumes in both Wholesale and Retail segments. Net earnings decreased to $0.34 per diluted share, compared to $0.57 per diluted share, primarily due to lower unit volumes and higher restructuring and asset impairment charges. Adjusted EPS was $0.59, compared to $0.65, and Adjusted EBITDA was $64.5 million, compared to $66.1 million.
Net sales decreased 3.5% to $2.23 billion, driven by lower volumes in Wholesale and Retail.
Wholesale segment net sales decreased 4.8% to $1.55 billion due to reduced volumes in the national accounts channel.
Retail segment net sales decreased 0.4% to $676.1 million, with comparable store sales down 2.5%.
Net earnings were $0.34 per diluted share, compared to $0.57 per diluted share.
SpartanNash
SpartanNash
SpartanNash Revenue by Segment
Forward Guidance
The Company reaffirmed its previous guidance provided on May 30, 2024.