Spartan triples its net earnings in fiscal 2Q

Oct. 7, 2004
Spartan Stores Inc, the nation’s eighth-largest grocery distributor, reported financial results for its fiscal 2005 second quarter ended Sept 11, 2004.

Spartan Stores Inc, the nation’s eighth-largest grocery distributor, reported financial results for its fiscal 2005 second quarter ended Sept 11, 2004.

“We are pleased to report a substantial increase in profitability during the second quarter,” said Craig C Sturken, chairman, president, and chief executive officer of the Grand Rapids MI-based company. “The second-quarter operating and net earnings are at the highest levels in the past three years.”

Consolidated net sales for the 12-week second quarter were $486.7 million compared with $491.4 million in the corresponding 12-week period a year ago. Second-quarter net earnings of $7.0 million were more than three times higher than 2003’s second-quarter net earnings of $1.8 million.

For the 24-week year-to-date period, consolidated net sales rose 0.7% to $961.0 million from $953.9 million in the corresponding 24-week period in 2003. Net earnings for the 24-week period climbed to $8.5 million, compared with a net loss of $4.3 million in the corresponding period a year earlier.

Sponsored Recommendations

Heavy-Duty Maintenance Checklist

A maintenance checklist can help ensure you hit everything necessary during an inspection. Check out our free downloadable checklist to help streamline your repairs.

Five Ways a Little Data Can Save Your Company Millions

While most trucking and logistics companies rely on cellular to keep their work fleet connected, satellite has the ability to connect anywhere and through small data transmission...

Fleet Case Study: 15% YOY Growth for ITDS

Learn how this small trucking company scaled significantly and maintained outstanding customer service without adding additional people. Sylectus TMS can automate operations and...

Unlocking Fleet Safety & Efficiency: The Managed Service Advantage

Want to boost your fleet's safety and efficiency? Tune in now to discover the power of Managed Services in optimizing your safety program, streamlining operations, and making ...

Voice your opinion!

To join the conversation, and become an exclusive member of FleetOwner, create an account today!