US: Spartan Stores enjoys Q3 sales lift
US regional grocer Spartan Stores has seen rising quarterly sales drive a jump in earnings, the company said last night (6 February).
The company, which acts as a distributor to independent retailers in the Mid-West, booked a 17.1% jump in operating income to US$51.6m during its third quarter to 5 January.
Revenue rose 15.6% to $826.1m, thanks largely to Spartan's recent acquisition of Felpausch stores. Spartan, which also runs over 100 stores in Michigan and Ohio, saw comparable-store sales rise 3.4%, excluding fuel.
"The third-quarter sales improvement represents our seventh consecutive quarter of sales growth," said chairman and CEO Craig Sturken.
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