SpartanNash finishes Q1 with rising revenues, earnings

SpartanNash Co. finished its 16-week first quarter April 22 with a $123.7 million increase in consolidated net sales.

The 5.4% jump brings this year’s total revenues to $2.4 billion after last year’s $2.28 billion performance.

Net earnings reached $15 million, or 40 cents per share, a rise from $9.9 million or 26 cents per share in the same period last year.

The company credited the growth to the acquisition of Caito Food Service, as well as organic growth in the food distribution segment with propelling net sales upward despite lower numbers in the military and retail segments.

“Our solid first quarter performance reflects the successful implementation and execution of our strategy to deliver growth in a challenging environment,” said David M. Staples, president and CEO of SpartanNash, via a prepared statement.

“Despite the ongoing impact of deflation and higher health care costs, we delivered positive results in food distribution as we continue to leverage our network to grow sales,” he added.

SpartanNash supplies more than 2,100 independent grocery retail locations throughout the U.S. It also has more than 150 retail locations.