Recent acquisitions and the growth of its private-label range has boosted full-year profits at US regional retailer Spartan Stores.
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.
During 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.