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• Full Year Net Sales: $9.55 billion, down slightly less than 2%.

• Q4 Sales Growth: Increased by 70 basis points compared to the prior year quarter.

• Retail Net Sales: Increased over 100 basis points to more than $2.84 billion.

• Retail Comparable Sales: Decreased by 0.7% in Q4.

• Wholesale Net Sales: Over $6.7 billion.

• Military Sales: Growth for 12 consecutive quarters.

• Adjusted EBITDA: $258 million, a record for the third consecutive year.

• Q4 Adjusted EBITDA: $58.6 million, up 9.2% from the prior year quarter.

• Net Earnings: Nearly $300,000 for the year.

• Cash from Operating Activities: $206 million, a 130% increase from fiscal 2023.

• Gross Profit Q4: $365 million or 16.1% of net sales.

• Retail Segment Sales Growth: 7.7% to $697 million in Q4.

• Retail Adjusted EBITDA: Increased to $14.8 million in Q4.

• Net Loss Q4: $35.1 million or $1 per diluted share.

• Adjusted Net Earnings Q4: $14.4 million or $0.42 per diluted share.

• Leverage Ratio: Increased to 2.8 times net long-term debt to adjusted EBITDA.

• Liquidity: Approximately $300 million at the end of the quarter.

• 2025 Net Sales Guidance: $9.8 billion to $10 billion.

• 2025 Adjusted EBITDA Guidance: $263 million to $278 million.

• 2025 Adjusted EPS Guidance: $1.60 to $1.85 per diluted share.

• 2025 CapEx Guidance: $150 million to $165 million.

• Warning! GuruFocus has detected 3 Warning Signs with SPTN.

Release Date: February 12, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• SpartanNash Co (NASDAQ:SPTN) achieved a record adjusted EBITDA of $258.5 million for the third consecutive year.

• The company returned $45 million to shareholders through share repurchases and dividends.

• Military sales have grown for 12 consecutive quarters, indicating strong performance in this unique sales channel.

• SpartanNash Co (NASDAQ:SPTN) generated $206 million in cash from operating activities, a 130% increase compared to fiscal 2023.

• The company has improved its safety KPIs by 83% since 2020 and increased its 90-day new hire retention rate by nearly 5% in 2024.

Negative Points

• SpartanNash Co (NASDAQ:SPTN) reported a net loss of $35.1 million in the fourth quarter, primarily due to a $45.7 million retail goodwill impairment charge.

• Full-year net sales decreased by nearly 2% to $9.55 billion.

• The wholesale segment experienced a 2.1% decrease in net sales due to reduced case volumes with national accounts and independent retailers.

• Retail comparable sales decreased by 0.7% in Q4, indicating challenges in consumer demand.

• Interest expense increased by $1.2 million to $10.9 million due to higher borrowings related to recent acquisitions and capital investments.