GRAND RAPIDS, Mich. -- Spartan Stores here reported sales and earnings increases for the fiscal year ended March 25.
Spartan, a private company, does not report quarterly results.
During the fiscal year, sales for the retailer-owned wholesaler/distributor rose 14.6% to $2.5 billion from $2.2 billion. Net earnings increased 26.8% to $9 million from $7.1 million.
Spartan attributed the sales increase to the addition of J.F. Walker Co., a convenience store wholesaler the company purchased in November 1993. J.F. Walker is Spartan's largest subsidiary, with sales of approximately $325 million last year.
According to Spartan, it paid nearly $17.6 million in incentive rebates to retailers during the year -- a figure practically unchanged from the previous year's number.
The company also said that for the first time, two independent, non-retail members have been elected to its board of directors:
James G. Buick, retired president and chief executive officer of Zondervan Corp., Grand Rapids, Mich., a publisher of religious books. He previously held executive positions with companies such as Clark Equipment Co. and Ford Motor Co.
John S. Carton, chairman and CEO of Pineview Golf Club/Turfside, Three Rivers, Mich., a company involved in the ownership of golf courses. He previously held executive positions with Quaker and General Foods Corp.
Buick will serve a one-year term and Carton a three-year term because Spartan's board holds rotating elections.
Donald J. Koop of Family Fare, Hudsonville, Mich., was re-elected chairman.
The company also announced the re-election of two board members to three-year terms: Roger L. Boyd, owner of Hillsdale Market House, Hillsdale, Mich., and Ronald A. DeYoung, Great Day Foods, Grand Rapids.
