Spartan Stores: Q1 Earnings Snapshot

June 2, 2022 GMT

GRAND RAPIDS, Mich. (AP) _ Spartan Stores Inc. (SPTN) on Thursday reported first-quarter earnings of $19.3 million.

On a per-share basis, the Grand Rapids, Michigan-based company said it had profit of 53 cents. Earnings, adjusted for non-recurring costs, came to 83 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The grocery store operator and grocery distributor posted revenue of $2.76 billion in the period.

Spartan Stores expects full-year earnings in the range of $2.17 to $2.32 per share, with revenue in the range of $9 billion to $9.3 billion.


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