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Spartan Posts Sales Gains on New Business

Spartan Stores yesterday said the acquisition of Felpausch Food Centers and comp-store sales growth of 2.8% (excluding fuel) helped drive second-quarter sales gains of 13.5%, to $627.1 million, compared with year-ago results.

GRAND RAPIDS, Mich. — Spartan Stores here yesterday said the acquisition of Felpausch Food Centers and comp-store sales growth of 2.8% (excluding fuel) helped drive second-quarter sales gains of 13.5%, to $627.1 million, compared with year-ago results. Incremental distribution volume to Martin’s Super Markets and other new wholesale business also helped drive sales, the company said. Net income was down about 2.2%, however, to $9.1 million, following a non-cash charge of $2.7 million related to changes in the Michigan tax law, which the company said would also result in a non-cash gain of the same amount in the fiscal third quarter. Earnings from continuing operations for the 12-week quarter, which ended Sept. 15, were up 19.6%, to $11.5 million.

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