Regional US supermarket group and food distributor Spartan Stores has offered an optimistic outlook despite recorded a drop in full-year earnings and sales.
In the 12 months ended 30 March, net profit dropped 13.6% to US$27.4m. Adjusted for one-time charges such as costs related to financing debt, earnings amounted to $31.2m.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Operating profit in the period was down 8.3% to $61m, while net sales slid 0.7% to $2.61bn.
The grocer said it expects its fiscal 2014 financial performance to “outpace” fiscal 2013 despite the negative effect of having two Easter holiday selling weeks in 2013.
