Recent acquisitions and the growth of its private-label range has boosted full-year profits at US regional retailer Spartan Stores.
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The company yesterday (13 May) booked a 13.1% increase in net earnings to US$38.8m for the 12 months to 28 March.
Operating earnings rose by 18% to US$72.7m, with Spartan thanking “ higher sales volumes, better operating leverage and acquisition synergies”.
Net sales were up 4% to US$2.6bn due to the Felpausch and VG’s acquisitions and an increase in comparable-store sales of 2.7%.
“This past fiscal year has been another success for Spartan Stores,” said Spartan CEO Dennis Eidson.
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By GlobalDataDuring the last quarter of the fiscal year, Spartan saw net earnings rise from US$8.1m to US$8.9m. Operating earnings climbed 13.6% to US$17.3m with Spartan pointing to “continued growth” in its “private-label programme”.
Net sales reached US$581.3m, against US$570.7m a year earlier.
