Michigan-based retailer Spartan Stores revealed today (31 July) that sales in its first quarter reached a six-year high, climbing 12.8% to US$586.7m.
Go deeper with GlobalData
The net sales gain was the result of the Felpausch Food Centre store acquisition, retail comparable store sales growth of 1.6 %, incremental fuel sales and higher distribution sales to new and existing customers, the company said.
Operating earnings increased 26.4% to $15m, up from $11.9m booked during the comparable period of last year.
Earnings growth was primarily due to acquired Felpausch stores and new distribution business, Spartan said.
“We remain very pleased with the execution of our business plan during this challenging economic climate,” Craig Sturken, Spartan’s chairman and CEO, said.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData
