Announcement • Sep 23
SpartanNash Company(NasdaqGS:SPTN) dropped from NASDAQ Composite Index SpartanNash Company has been dropped from the NASDAQ Composite Index. Declared Dividend • Aug 31
Second quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 15th September 2025 Payment date: 30th September 2025 Dividend yield will be 3.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. However, the dividend is well covered by cash flows (43% cash payout ratio). The dividend has increased by an average of 6.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. Announcement • Aug 28
SpartanNash® Approves Quarterly Cash Dividend, Payable on September 30, 2025 SpartanNash® announced that on August 27, 2025, its Board of Directors approved a quarterly cash dividend of $0.22 per common share. The dividend will be paid on September 30, 2025, to shareholders of record as of the close of business on September 15, 2025. Reported Earnings • Aug 15
Second quarter 2025 earnings: EPS misses analyst expectations Second quarter 2025 results: EPS: US$0.18 (down from US$0.34 in 2Q 2024). Revenue: US$2.27b (up 1.8% from 2Q 2024). Net income: US$6.19m (down 46% from 2Q 2024). Profit margin: 0.3% (down from 0.5% in 2Q 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 64%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Announcement • Aug 12
SpartanNash Company Announces Executive Appointments SpartanNash announced the appointment of two new IT leaders, Ed Rybicki as SVP and Chief Information Officer (CIO) and Brett Hoffman as VP and Chief Information Security Officer (CISO). The IT department is reporting to Executive Vice President and Chief Financial Officer Jason Monaco as part of the Company's newly combined Finance/IT/Strategy organization. Rybicki will oversee SpartanNash's technology team, focusing on innovation, operational efficiency, and SpartanNash's growth strategy. Hoffman will serve on Rybicki's leadership team, leading the Company's cybersecurity strategy across retail, supply chain and corporate environments. Rybicki brings 20 years of experience to his role as CIO, most recently serving as Chief Information and Technology Officer at Mastronardi Produce, an agricultural producer and supplier. He also served in senior IT positions at Vyaire Medical, Merieux Nutrisciences and Delphi. Rybicki earned his bachelor's degree in organizational behavior from the University of Michigan and his master's degree in computer information systems from the University of Detroit Mercy. Hoffman joins SpartanNash from Inspire Security Solutions, where he served as Vice President, Enterprise Security Solutions and CISO. He also served as Global CISO at MillerKnoll and held cybersecurity leadership roles at HealthEquity, Amway and Corewell Health. He earned his bachelor's degree in business and professional administration from Roosevelt University. Announcement • Jul 31
SpartanNash Company to Report Q2, 2025 Results on Aug 14, 2025 SpartanNash Company announced that they will report Q2, 2025 results Pre-Market on Aug 14, 2025 New Risk • Jun 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.5x net interest cover). Minor Risks Paying a dividend despite being loss-making. Share price has been volatile over the past 3 months (15% average weekly change). Announcement • Jun 23
C&S Wholesale Grocers, LLC entered into a definitive merger agreement to acquire SpartanNash Company (NasdaqGS:SPTN) for approximately $970 million. C&S Wholesale Grocers, LLC entered into a definitive merger agreement to acquire SpartanNash Company (NasdaqGS:SPTN) for approximately $970 million on June 22, 2025. C&S Wholesale will acquire SpartanNash for $1.77 billion, including assumed net debt. C&S has obtained financing commitment letters for the Transaction. Wells Fargo has provided a debt financing commitment for the transaction. SpartanNash will be required to pay a termination fee equal to $35.4 million incase of termination and C&S Wholesale will be required to pay termination fee of $55 million incase of termination. C&S Wholesale has obtained equity financing and debt financing commitments for the purpose of financing the transactions contemplated by the Merger Agreement, repaying or refinancing certain existing indebtedness of the Company and its subsidiaries, and paying related fees and expenses. RJJRP Holdings, Inc. has committed to capitalize Parent at Closing with an aggregate equity contribution equal to $903 million and an incremental amendment to Parent’s existing ABL facility in an aggregate principal amount not to exceed $600 million and a new term loan facility in an aggregate principal amount not to exceed $400 million.
The transaction is subject to certain customary closing conditions, including, among other things the approval of the Merger Agreement by SpartanNash holders of a majority of the outstanding shares of Common Stock, applicable regulatory approvals and the expiration or early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended. The Transaction has been unanimously approved by the Boards of Directors of both companies and is expected to close in late 2025.
Solomon Partners, LP acted as financial advisor, Andrew Lance,Gina Hancock,Pamela Lawrence Endreny,Doug Horowitz,Michael J. Perry,Stephen Weissman,Soren Kreider,Evan M. D'Amico and George Sampas of Gibson, Dunn & Crutcher LLP acted as legal advisor for C&S Wholesale Grocers, LLC. Sullivan & Cromwell LLP is serving as legal advisor to C&S in connection with its debt financing. BofA Securities, Inc. acted as financial advisor and Kimberly R. Spoerri of Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor for SpartanNash Company. Upcoming Dividend • Jun 08
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 13 June 2025. Payment date: 30 June 2025. The company is paying out more than 100% of its profits but is generating plenty of cash to support the dividend. Trailing yield: 4.8%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.0%). Reported Earnings • May 30
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: EPS: US$0.062 (down from US$0.38 in 1Q 2024). Revenue: US$2.91b (up 3.7% from 1Q 2024). Net income: US$2.08m (down 84% from 1Q 2024). Profit margin: 0.1% (down from 0.5% in 1Q 2024). Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) missed analyst estimates by 85%. Revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has only fallen by 16% per year, which means it has not declined as severely as earnings. Announcement • May 29
SpartanNash Company Re-Affirms Earnings Guidance for the Fiscal 2025 SpartanNash Company re-affirmed earnings guidance for the fiscal 2025. For the year, the company expects total net sales in the range of $9,800 million-$10,000 million. Declared Dividend • May 25
Fourth quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 13th June 2025 Payment date: 30th June 2025 Dividend yield will be 4.7%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 98x earnings). However, it is well covered by cash flows (40% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 10,826% to bring the payout ratio under control. EPS is expected to grow by 150% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • May 22
SpartanNash Company Declares Quarterly Cash Dividend, Payable on June 30, 2025 SpartanNash Company announced that on May 21, 2025, its Board of Directors approved a quarterly cash dividend of $0.22 per common share. The dividend will be paid on June 30, 2025, to shareholders of record as of the close of business on June 13, 2025. As of May 20, 2025, there were 33,854,313 common shares outstanding. Announcement • May 15
SpartanNash Company to Report Q1, 2025 Results on May 29, 2025 SpartanNash Company announced that they will report Q1, 2025 results Pre-Market on May 29, 2025 Announcement • May 15
Spartannash Launches Brat Shop to Meet Rising Demand for Grill Thrills SpartanNash® is heating up summer grilling season with the launch of its new Brat Shop at all Family Fare®, D&W® Fresh Market and Martin's Super Market stores. The limited-time, in-store destination offers a taste of summer in a bun - featuring classic flavs and some new cheeky faves. Brat Shop features a curated selection of bratwurst for store guests to relish every week, including sweet and smoky Honey BBQ, tangy Pineapple Teriyaki, zesty Taco Cheddar and spicy Hot+Sweet Red Chile. Plus, with regional-inspired flavors like the Philly Cheesesteak--the ultimate backyard heavyweight champion--and the Michigander classic brat that offers a little cherry-kissed twist, it's a real battle of the buns with bragging rights up for grabs. According to a nationwide survey commissioned by SpartanNash and conducted by Talker Research™?, with results that surprise no one: backyard grilling is a defining feature of summer for Americans who like fun. The survey of 2,000 adults found that nearly two-thirds (66%) consider summer grilling season their favorite time of year, with Gen Z respondents saying more than any other generation that the missing link for the best summer ever is a barbecue. The findings also revealed that 77% of respondents enjoy experimenting with new flavors at cookouts. In the Midwest--where SpartanNash operates nearly 200 retail grocery stores--42% of respondents with good taste said they enjoy eating brats at a barbeque, and of those who eat bratwurst, 51% of Midwesterners eat at least one per month, underscoring the growing appetite for America's beloved sausage. Consumer preferences are also shifting when it comes to how brats are dressed and served. Backed by the expertise of SpartanNash's meat department and complemented by offerings in every aisle of the grocery store, Brat Shop is available through Labor Day weekend. Announcement • Mar 24
SpartanNash Company, Annual General Meeting, May 21, 2025 SpartanNash Company, Annual General Meeting, May 21, 2025. Recent Insider Transactions Derivative • Mar 19
President exercised options and sold US$212k worth of stock On the 15th of March, Tony Sarsam exercised options to acquire 11k shares at no cost and sold these for an average price of US$20.07 per share. This trade did not impact their existing holding. For the year to January 2021, Tony's total compensation was 10% salary and 90% other compensation. This indicates that these sales could comprise a meaningful part of their income for the year. Since March 2024, Tony's direct individual holding has decreased from 150.10k shares to 133.46k. Company insiders have collectively sold US$413k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Mar 14
Fourth quarter dividend increased to US$0.22 Dividend of US$0.22 is 1.1% higher than last year. Ex-date: 21st March 2025 Payment date: 2nd April 2025 Dividend yield will be 4.3%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is not covered by earnings (dividend approximately 98x earnings). However, it is well covered by cash flows (40% cash payout ratio). The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. The company's earnings per share (EPS) would need to grow by 10,826% to bring the payout ratio under control. EPS is expected to grow by 162% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Announcement • Mar 12
SpartanNash Company Increases Quarterly Cash Dividend, Payable on April 2, 2025 SpartanNash Company announced that its Board of Directors approved a quarterly cash dividend of $0.22 per common share, representing a 1.1% increase from its fiscal 2024 quarterly cash dividend of $0.2175. The dividend will be paid on April 2, 2025, to shareholders of record as of the close of business on March 21, 2025. Price Target Changed • Feb 19
Price target decreased by 12% to US$20.50 Down from US$23.25, the current price target is an average from 2 analysts. New target price is 6.4% above last closing price of US$19.27. Stock is down 9.6% over the past year. The company is forecast to post earnings per share of US$1.79 for next year compared to US$0.0088 last year. Announcement • Feb 13
Spartannash Company Provides the Earnings Guidance for Fiscal Year 2025 SpartanNash Company provided the earnings guidance for fiscal year 2025. For the period, the company expected total net sales to be in the range of $9,800 million to $10,000 million. New Risk • Feb 13
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 0.003% Last year net profit margin: 0.5% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.9x net interest cover). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.003% net profit margin). Reported Earnings • Feb 13
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$0.009 (down from US$1.53 in FY 2023). Revenue: US$9.55b (down 1.8% from FY 2023). Net income: US$299.0k (down 99% from FY 2023). Profit margin: 0% (down from 0.5% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 99%. Revenue is forecast to grow 1.3% p.a. on average during the next 2 years, compared to a 4.5% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, earnings per share has fallen by 26% per year but the company’s share price has only fallen by 9% per year, which means it has not declined as severely as earnings. Announcement • Jan 29
SpartanNash Company to Report Q4, 2024 Results on Feb 12, 2025 SpartanNash Company announced that they will report Q4, 2024 results Pre-Market on Feb 12, 2025 Declared Dividend • Nov 25
Third quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 9th December 2024 Payment date: 30th December 2024 Dividend yield will be 4.6%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (64% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 40% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Nov 22
Spartannash Declares Quarterly Cash Dividend, Payable December 30, 2024 SpartanNash announced that on Nov. 20, 2024, its Board of Directors approved a quarterly cash dividend of $0.2175 per common share. The dividend will be paid on December 30, 2024, to shareholders of record as of the close of business on December 9, 2024. As of November 19, 2024, there were 33,754,787 common shares outstanding. Major Estimate Revision • Nov 14
Consensus EPS estimates fall by 15% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$1.72 to US$1.47 per share. Revenue forecast steady at US$9.50b. Net income forecast to grow 36% next year vs 16% growth forecast for Consumer Retailing industry in the US. Consensus price target broadly unchanged at US$23.00. Share price fell 7.4% to US$18.32 over the past week. New Risk • Nov 08
New major risk - Financial position The company's debt is not well covered by operating cash flow. Operating cash flow to total debt ratio: 18% This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (18% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Reported Earnings • Nov 08
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: US$0.33 (down from US$0.33 in 3Q 2023). Revenue: US$2.25b (flat on 3Q 2023). Net income: US$10.9m (down 1.9% from 3Q 2023). Profit margin: 0.5% (in line with 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 32%. Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, earnings per share has fallen by 14% per year whereas the company’s share price has fallen by 10% per year. Announcement • Oct 30
SpartanNash Company (NasdaqGS:SPTN) agreed to acquire Markham Enterprises Inc, Markham Oil and its affiliates. SpartanNash Company (NasdaqGS:SPTN) agreed to acquire Markham Enterprises Inc, Markham Oil and its affiliates on October 29, 2024. Following the closing of this transaction, SpartanNash Company will continue employment of Markham Enterprises' 42 team members. The transaction is expected to close in early December, subject to customary closing conditions. Announcement • Oct 24
SpartanNash Company to Report Q3, 2024 Results on Nov 07, 2024 SpartanNash Company announced that they will report Q3, 2024 results Pre-Market on Nov 07, 2024 Announcement • Oct 14
SpartanNash Company (NasdaqGS:SPTN) agreed to acquire Fresh Encounter Inc. from Michael Needler Jr. and Julie Anderson. SpartanNash Company (NasdaqGS:SPTN) agreed to acquire Fresh Encounter Inc. from Michael Needler Jr. and Julie Anderson on October 14, 2024. SpartanNash will continue employment for Fresh Encounter Inc.'s 2,500 team members. The transaction is subject to customary closing conditions and expected to close in late November. Declared Dividend • Sep 15
Second quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 23rd September 2024 Payment date: 4th October 2024 Dividend yield will be 3.9%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by both earnings (80% earnings payout ratio) and cash flows (65% cash payout ratio). The dividend has increased by an average of 9.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 44% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Announcement • Sep 12
SpartanNash Company Approves Quarterly Cash Dividend, Payable on October 4, 2024 SpartanNash announced that on September 11, 2024, its Board of Directors approved a quarterly cash dividend of $0.2175 per common share. The dividend will be paid on October 4, 2024, to shareholders of record as of the close of business on September 23, 2024. As of September 10, 2024, there were 33,744,708 common shares outstanding. Announcement • Aug 26
SpartanNash Appoints Erin Storm as Senior Vice President and Chief Marketing Officer SpartanNash announced Erin Storm has been hired as Senior Vice President and Chief Marketing Officer. Storm will lead the marketing function, including the OwnBrands portfolio, retail marketing programs, e-commerce and digital experience, creative services, shopper insights and loyalty. Storm joins SpartanNash following an 18-year career with Kellogg's® and its spin-off Kellanova™, where she was most recently the Vice President of Commercial Strategy. Prior to that, Storm held a variety of marketing roles with increasing leadership responsibility, including Vice President of Marketing in which she oversaw brand and innovation across the $3 billion salty category for brands such as Pringles®, Cheez-It and Club® Crackers. She previously led the Cheez-It brand marketing team, inclusive of activations like the Cheez-It Citrus Bowl. Her team's creative has earned national awards and recognition, including an Andy Award for a 2024 Pringles Super Bowl® ad. Erin is a talented brand marketer with proven success in growing the demand for products that have become popular household favorites. She will play a pivotal role in driving brand awareness for retail banners and OwnBrands portfolio, capturing market share, and leveraging consumer insights for product innovation. Throughout her career, Storm has provided leadership for brands that include Froot Loops®, Frosted Mini Wheats®, Special K®, Rice Krispies Treats®, Eggo®, MorningStar Farms®, Kellogg's Raisin Bran®, Frosted Flakes® and Apple Jacks. She earned her undergraduate degrees in marketing and finance from the University of Delaware and her Master of Business Administration from Indiana University'sKelley School of Business. Reported Earnings • Aug 16
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$0.34 (down from US$0.57 in 2Q 2023). Revenue: US$2.23b (down 3.5% from 2Q 2023). Net income: US$11.5m (down 41% from 2Q 2023). Profit margin: 0.5% (down from 0.8% in 2Q 2023). Revenue missed analyst estimates by 1.7%. Earnings per share (EPS) also missed analyst estimates by 39%. Revenue is forecast to grow 1.5% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Announcement • Aug 15
SpartanNash Company Reaffirms Earnings Guidance for the Fiscal Year 2024 SpartanNash Company reaffirms earnings guidance for the fiscal year 2024. For the year, the company expected total net sales in the range of $9,500 million to $9,700 million. Announcement • Aug 06
SpartanNash Unveils Fresh Store Vision with Revamped Family Fare SpartanNash is proudly unveiling a new chapter in grocery shopping with the grand reopening of its Family Fare store at 993 Butternut Dr. in Holland, Mich. A modernized shopping destination, it features an enhanced array of fresh meal solutions, convenience-focused food selections, a beef jerky bar and a nostalgic vintage candy station. The refreshed concept will serve as a model for future Family Fare remodels, with the Holland community being the first to experience and influence the new direction for Family Fare stores across the region. The newly redesigned Family Fare offers a vibrant, market-style shopping environment with several new features like: Open bakery with live baking to fill the store with aromas of fresh-baked pastries, along with artisan breads and desserts like Tres Leches Cake. Expanded deli options with fresh, grab-and-go meal solutions like a Caribbean Grain Bowl with Salmon and Chimichurri, along with sandwiches like a Fried Wild-Caught Alaskan Cod. $20 healthy meal kits that can be prepared in 20 minutes or less, designed to feed a family of four. Nostalgic candy station with entertaining sweets from yesteryear. Bulk jerky bar. Market fresh buys at new lower prices with fresh-cut produce. Dedicated value wall showcasing competitive promotions. In further celebration of the grand reopening, the store hosted a family friendly party last Saturday in the parking lot with food and games for children, with proceeds benefitting the West Ottawa Rugby Team. In alignment with SpartanNash'sPeople First approach, the Company continues to invest in innovations that benefit Associates, store guests and the communities it serves. The Holland store's remodel reflects SpartanNash's commitment to evolving with consumer preferences, and another Family Fare refresh is planned for SpartanNash, later this fall. Announcement • Aug 01
SpartanNash Company to Report Q2, 2024 Results on Aug 15, 2024 SpartanNash Company announced that they will report Q2, 2024 results Pre-Market on Aug 15, 2024 Announcement • Jul 29
SpartanNash Company Appoints Dorlisa Flur as an Independent Director SpartanNash announced that Dorlisa Flur has joined its Board of Directors as an independent director. Flur brings extensive experience in grocery distribution, retail, warehousing and logistics for multi-unit, multi-billion-dollar enterprises operating in public, private and private equity environments. Flur has served as an independent strategic advisor to the leadership of Southeastern Grocers Inc. (SEG), the $8.5 billion parent company of Winn-Dixie and Harveys Supermarket, since 2018. From 2016 until 2018, Flur championed the company's successful restructuring as SEG's former Chief Strategy and Transformation Officer. Prior to SEG, Flur was Executive Vice President, Omnichannel for leading department store chain Belk and Vice Chair, Strategy and Chief Administrative Officer for Family Dollar Stores Inc. Earlier in her career, Flur spent 16 years with global management consulting partners McKinsey & Company. Flur is an independent corporate director on the boards of Sally Beauty Holdings Inc., United States Cold Storage Inc., and BlueCross BlueShield NC and participates on various committees for each. From 2019 to 2024, Flur also previously served on the board of Hibbett Inc. as an independent director. In 2020, Flur earned the NACD Directorship Certified™ credential and was recognized in Directors & Boards' 2021 Directors to Watch and among the NACD Directorship 100™ in 2022. Flur is the third independent director joining the Board since 2023, following the appointments of Kerrie MacPhersonand Fred Bentley. The Board now comprises nine directors – seven of whom have been appointed in the last five years – and eight of whom are independent. Upcoming Dividend • Jun 09
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 14 June 2024. Payment date: 28 June 2024. Payout ratio is a comfortable 55% but the company is paying out more than the cash it is generating. Trailing yield: 4.5%. Lower than top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.3%). Announcement • May 30
SpartanNash Company Updates Earnings Guidance for the Fiscal Year 2024 SpartanNash Company updated earnings guidance for the fiscal year 2024. For the period, Company now expects Total net sales of $9,500 million to $9,700 million against previous guidance of $9,700 million to $9,900 million. Declared Dividend • May 26
Fourth quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 14th June 2024 Payment date: 28th June 2024 Dividend yield will be 4.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.2% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • May 24
SpartanNash Company Approves Quarterly Cash Dividend, Payable on June 28, 2024 Food solutions company SpartanNash announced that on May 22, 2024, its Board of Directors approved a quarterly cash dividend of $0.2175 per common share. The dividend will be paid on June 28, 2024, to shareholders of record as of the close of business on June 14, 2024. As of May 21, 2024, there were 33,953,593 common shares outstanding. Announcement • May 18
SpartanNash Company to Report Q1, 2024 Results on May 30, 2024 SpartanNash Company announced that they will report Q1, 2024 results Pre-Market on May 30, 2024 Announcement • Apr 16
SpartanNash Appoints John Taylor as Associate General Counsel SpartanNash announced the appointment of John Taylor as Vice President and Associate General Counsel. Taylor will join the Company's best-in-class legal team as it seeks new market opportunities and advances toward its long-term growth goals. Taylor joins SpartanNash after nearly a decade of experience at Wolverine Worldwide, where he developed expertise in cybersecurity, indirect procurement, compliance, transactional work and asset protection. His experience managing complex legal matters and strategic initiatives will be important as the Company explores organic and inorganic growth opportunities as part of its strategic master action plan. Taylor will also advise on governance issues related to securities law and the use of artificial intelligence, supporting SpartanNash's commitment to leading innovation in food solutions. Taylor earned both his Juris Doctor and an MBA from Michigan State University and undergraduate degree from Aquinas College. Announcement • Apr 15
SpartanNash Company (NasdaqGS:SPTN) agreed to acquire Metcalfe, Inc. SpartanNash Company (NasdaqGS:SPTN) agreed to acquire Metcalfe, Inc. on April 15, 2024. Upon close of the sale, the Madison and Wauwatosa, Wis. locations will be continuing employment for all employees. The Metcalfe's Market storefront, branding and core shopper experience will remain in place. As part of the acquisition, full-time Metcalfe's Market team members will continue to receive a benefits package featuring a variety of medical, vision and dental plans, as well as additional investments in paid time off, wellness perks, tuition reimbursement and more. Transaction is subject to customary closing conditions and is expected to be completed in spring 2024. Announcement • Apr 11
SpartanNash Company, Annual General Meeting, May 22, 2024 SpartanNash Company, Annual General Meeting, May 22, 2024, at 10:00 US Eastern Standard Time. Agenda: To consider election of the eight directors named in this proxy statement to serve until the 2025 annual meeting of shareholders of the company and until such directors' successors shall have been elected and qualified; to consider advisory approval of the company's named executive officer compensation; to consider approval of the SpartanNash company 2024 stock incentive plan; to consider ratification of the selection of Deloitte & Touche LLP as the company's independent certified public accounting firm for the fiscal year ending December 28, 2024; to consider shareholder proposal regarding a simple majority vote, if properly presented at the annual meeting; to consider shareholder proposal regarding animal welfare, if properly presented at the annual meeting; and to consider any other business that may properly come before the meeting, and any adjournment, postponement or continuation of the meeting. New Risk • Mar 21
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 20% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Debt is not well covered by operating cash flow (17% operating cash flow to total debt). Minor Risks Paying a dividend despite having no free cash flows. Large one-off items impacting financial results. Significant insider selling over the past 3 months (US$424k sold). Recent Insider Transactions • Mar 20
Independent Director recently sold US$326k worth of stock On the 15th of March, William Voss sold around 16k shares on-market at roughly US$19.84 per share. This transaction amounted to 52% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$768k more than they bought in the last 12 months. Announcement • Mar 20
SpartanNash Company Promotes Nicole Zube to Executive Vice President, Chief Human Resources Officer SpartanNash Company announced the promotion of Nicole Zube from Senior Vice President to Executive Vice President, Chief Human Resources Officer. Since joining SpartanNash in September 2022, Zube has played a critical role in advancing the Company's People First strategy to attract, develop and retain top talent. Under Zube's leadership, SpartanNash achieved its 2023 Key Performance Indicators for safety and Associate retention, performing in the top-quartile among peers with the Occupational Safety and Health Administration (OSHA) and reducing turnover by more than 9%. Zube also led the creation and launch of SpartanNash's first People Philosophy and Competencies, which are measurable skills the Company uses to help guide candidate interviews, goal setting, professional development and the overall Associate career experience. She has additionally championed enhancements to SpartanNash's Total Rewards offering, including pay increases for all entry-level roles in Retail and Supply Chain, expanded bonus program eligibility, a new service awards program, a higher discount for the Associate Stock Purchase Plan and more. Prior to SpartanNash, Zube most recently served as Head of HR – U.S. Commercial at Kellogg Company. She worked in a variety of human resources roles during her decade-long tenure at Kellogg, including a three-year stint in the United Kingdom, where she was Senior HR Director, European Supply Chain and Senior HR Director, European Talent and Diversity. Prior to Kellogg, Zube worked in various HR positions during her eight-year career at Procter & Gamble. Zube earned her bachelor's degree from Northern Kentucky University and her master's degree from Xavier University. Recent Insider Transactions Derivative • Mar 18
Independent Director notifies of intention to sell stock William Voss intends to sell 16k shares in the next 90 days after lodging an Intent To Sell Form on the 15th of March. If the sale is conducted around the recent share price of US$19.50, it would amount to US$321k. Since March 2023, William's direct individual holding has decreased from 40.95k shares to 31.69k. Company insiders have collectively sold US$442k more than they bought, via options and on-market transactions in the last 12 months. Declared Dividend • Mar 10
Fourth quarter dividend increased to US$0.22 Dividend of US$0.22 is 1.2% higher than last year. Ex-date: 13th March 2024 Payment date: 28th March 2024 Dividend yield will be 4.2%, which is higher than the industry average of 1.4%. Sustainability & Growth Dividend is covered by earnings (56% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.1% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 38% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Announcement • Mar 10
Spartannash Company Announces Board Retirements On March 5, 2024, Major General (Ret.) Hawthorne L. Proctor and William R. Voss, members of the Board of Directors of SpartanNash Company informed the Company of their intention to retire from the Board as of the Company's 2024 Annual Meeting of Shareholders and, therefore, will not be standing for re-election to the Board at the 2024 AMS. The retirement of Maj. Gen. Proctor and Mr. Voss was not the result of any disagreement with the Company on any matter relating to its operations, policies or practices. Announcement • Mar 07
SpartanNash Increases Quarterly Cash Dividend, Payable on March 28, 2024 SpartanNash announced that on March 6, 2024, its Board of Directors approved a quarterly cash dividend of $0.2175 per common share, representing a 1.2% increase from its fiscal 2023 quarterly cash dividend of $0.2150. The dividend will be paid on March 28, 2024, to shareholders of record as of the close of business on March 14, 2024. As of March 6, 2024, there were 34,469,289 common shares outstanding. Recent Insider Transactions • Mar 03
Independent Director recently sold US$98k worth of stock On the 28th of February, Hawthorne Proctor sold around 5k shares on-market at roughly US$20.81 per share. This transaction amounted to 16% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$442k more than they bought in the last 12 months. Recent Insider Transactions Derivative • Feb 28
Independent Director notifies of intention to sell stock Hawthorne Proctor intends to sell 5k shares in the next 90 days after lodging an Intent To Sell Form on the 26th of February. If the sale is conducted around the recent share price of US$21.91, it would amount to US$103k. Since March 2023, Hawthorne's direct individual holding has decreased from 36.69k shares to 30.19k. Company insiders have collectively sold US$344k more than they bought, via options and on-market transactions in the last 12 months. Major Estimate Revision • Feb 23
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$9.88b to US$9.76b. EPS estimate also fell from US$2.35 per share to US$1.98 per share. Net income forecast to grow 31% next year vs 22% growth forecast for Consumer Retailing industry in the US. Consensus price target of US$24.33 unchanged from last update. Share price was steady at US$20.93 over the past week. Major Estimate Revision • Feb 22
Consensus EPS estimates fall by 16% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$9.88b to US$9.76b. EPS estimate also fell from US$2.35 per share to US$1.98 per share. Net income forecast to grow 31% next year vs 25% growth forecast for Consumer Retailing industry in the US. Consensus price target of US$24.33 unchanged from last update. Share price was steady at US$20.76 over the past week. Announcement • Feb 21
SpartanNash Launches New Private Label Brand, Finest Reserve by Our Family SpartanNash announced the launch of its new private label brand, Finest Reserve by Our Family. The collection is currently a curated offering of artisan-crafted frozen pizzas, upscale pastas, sauces, dressings and marinades, premium spices, salts and seasoning blends, chocolate and wine – with more products to come. Featuring elevated flavors and attainable indulgence, the new line is a testament to Finest Reserve's ethos that everyone deserves the opportunity to enjoy food at its finest. Finest Reserve uses fresh and authentic ingredients to create gourmet flavors for friends and families to savor, share and remember. The new private label is an extension of Our Family, SpartanNash's flagship brand, that has notably captured the attention of the Company's customer base. Finest Reserve is defined by three core values collectively informing its products and purpose: Authentic: As a responsible steward, Finest Reserve will only offer products, recipes and ingredients that are unique, original, verified in origin and utilize the best practices in quality control. Culinary: The brand is committed to providing recipes and sophisticated flavors that highlight the culinary creativity and passion behind every offering. This results in a contemporary twist on traditional offerings to invite conversations about the joy of food. Cordial: Finest Reserve is a brand that promotes inclusivity, presenting high-end offerings at an accessible price point. To continue providing shoppers with an extensive suite of value-based options, SpartanNash OwnBrands products, including Finest Reserve, will be available at Company retail locations and at its independent grocer customer stores across the country. Reported Earnings • Feb 16
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$1.53 (up from US$0.98 in FY 2022). Revenue: US$9.73b (flat on FY 2022). Net income: US$52.2m (up 51% from FY 2022). Profit margin: 0.5% (up from 0.4% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 17%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 4.4% growth forecast for the Consumer Retailing industry in the US. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. 
