SpartanNash’s results for the second quarter of 2024 are in! As the company continues to rally its strength against ongoing industry pressures, President and Chief Executive Officer Tony Sarsam shared a look at the retailer’s newest initiative, along with significant margin gains.
"The team's execution of our transformational initiatives has created a foundation for future growth while contributing to our margin gains year-to-date," said Sarsam. "We are pleased with the progression of our investments in margin-enhancing programs and expect benefits by the end of the year. Building on this progress, we are piloting a Customer Value Proposition initiative that is informed by extensive shopper data and insights, aimed at enhancing freshness, value, and convenience. As part of this store modernization program, we are lowering prices on 6,000 products to bring more value to our shoppers today."
SpartanNash reported that its net sales for Q2 reached $2.23 billion, a 3.5 percent decrease driven by lower volumes in the Wholesale and Retail segments.
Regarding its newly acquired Metcalfe’s Market banner, the company reported that lower consumer demand trends offset incremental sales.
In addition, SpartanNash reported:
More of the company’s Q2 results and insights can be found here.
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