SpartanNash Co

CIK:0000877422|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jul. 12, 2025	Jul. 13, 2024	Jul. 12, 2025	Jul. 13, 2024
Income Statement [Abstract]
Net sales	$ 2,271,145	$ 2,230,756	$ 5,180,769	$ 5,037,019
Cost of sales	1,888,523	1,877,753	4,316,653	4,243,672
Gross profit	382,622	353,003	864,116	793,347
Operating expenses
Selling, general and administrative	355,273	318,157	814,334	721,790
Acquisition and integration, net	9,315	2,613	13,155	2,940
Restructuring and asset impairment, net	(90)	6,107	(458)	11,875
Total operating expenses	364,498	326,877	827,031	736,605
Operating earnings	18,124	26,126	37,085	56,742
Other expenses and (income)
Interest expense, net	12,280	10,541	27,492	24,028
Other, net	(208)	(550)	(459)	(1,598)
Total other expenses, net	12,072	9,991	27,033	22,430
Earnings before income taxes	6,052	16,135	10,052	34,312
Income tax expense	(138)	4,646	1,782	9,852
Net earnings	$ 6,190	$ 11,489	$ 8,270	$ 24,460
Basic earnings per share:
Net earnings	$ 0.18	$ 0.34	$ 0.24	$ 0.72
Diluted earnings per share:
Net earnings	$ 0.18	$ 0.34	$ 0.24	$ 0.71
Weighted average shares outstanding Basic	33,915	33,726	33,808	33,962
Weighted average shares outstanding Diluted	34,446	33,958	34,234	34,329

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jul. 12, 2025	Jul. 13, 2024
Cash flows from operating activities
Net earnings	$ 8,270	$ 24,460
Adjustments to reconcile net earnings to net cash provided by operating activities:
Non-cash restructuring, asset impairment, and other charges	(835)	12,129
Depreciation and amortization	64,719	53,988
Non-cash rent	(4,367)	(1,676)
LIFO expense	8,106	3,529
Postretirement benefits expense (income)	213	(1,085)
Deferred income taxes	12,483	4,254
Stock-based compensation expense	8,770	5,576
Stock warrant	298	516
Loss on disposals of assets	237	44
Other operating activities	1,003	991
Changes in operating assets and liabilities:
Accounts receivable	(1,913)	(3,619)
Inventories	7,308	48,517
Prepaid expenses and other assets	10,042	2,213
Accounts payable	36,636	9,962
Accrued payroll and benefits	(25,090)	(25,604)
Current income taxes	(11,418)	(3,604)
Other accrued expenses and other liabilities	(1,899)	1,507
Net cash provided by operating activities	112,563	132,098
Cash flows from investing activities
Purchases of property and equipment	(51,179)	(67,074)
Net proceeds from the sale of assets	137	1,901
Acquisitions, net of cash acquired	0	(14,898)
Loans to customers	(7,707)	0
Payments from customers on loans	2,772	983
Other investing activities	(3,468)	(407)
Net cash used in investing activities	(59,445)	(79,495)
Cash flows from financing activities
Proceeds from senior secured credit facility	787,690	715,399
Payments on senior secured credit facility	(810,947)	(721,069)
Repayment of other long-term debt and finance lease liabilities	(7,015)	(5,879)
Share repurchases	0	(15,051)
Net payments related to stock-based award activities	(2,722)	(3,181)
Dividends paid	(15,476)	(15,360)
Other financing activities	(714)	(184)
Net cash used in financing activities	(49,184)	(45,325)
Net increase in cash and cash equivalents	3,934	7,278
Cash and cash equivalents at beginning of period	21,570	17,964
Cash and cash equivalents at end of period	$ 25,504	$ 25,242

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Jul. 12, 2025	Dec. 28, 2024
Current assets
Cash and cash equivalents	$ 25,504	$ 21,570
Accounts and notes receivable, net	450,133	448,887
Inventories, net	530,148	546,312
Prepaid expenses and other current assets	82,200	75,042
Total current assets	1,087,985	1,091,811
Property and equipment, net	759,350	779,984
Goodwill	181,035	181,035
Intangible assets, net	115,570	117,821
Operating lease assets	306,434	327,211
Other assets, net	107,135	104,434
Total assets	2,557,509	2,602,296
Current liabilities
Accounts payable	510,506	485,017
Accrued payroll and benefits	60,767	85,829
Other accrued expenses	60,142	61,993
Current portion of operating lease liabilities	47,165	49,562
Current portion of long-term debt and finance lease liabilities	14,970	12,838
Total current liabilities	693,550	695,239
Long-term liabilities
Deferred income taxes	99,214	91,010
Operating lease liabilities	281,946	305,051
Other long-term liabilities	27,004	26,537
Long-term debt and finance lease liabilities	713,971	740,969
Total long-term liabilities	1,122,135	1,163,567
Commitments and contingencies (Note 10)
Shareholders’ equity
Common stock, voting, no par value; 100,000 shares authorized; 33,858 and 33,752 shares outstanding	461,887	454,751
Preferred stock, no par value, 10,000 shares authorized, no shares outstanding	0	0
Accumulated other comprehensive (loss) income	(200)	1,337
Retained earnings	280,137	287,402
Total shareholders’ equity	741,824	743,490
Total liabilities and shareholders’ equity	$ 2,557,509	$ 2,602,296