What drove SPTN's earnings growth in late 2024?

SpartanNash's earnings growth in late 2024 was driven by several key factors:

1. Strategic Initiatives: The company's focus on cost leadership and expansion into ethnic stores has contributed to its performance. These initiatives have helped SpartanNash capture additional cost savings and enhance margins, which are crucial for profitability.
2. Merchandising Transformation: SpartanNash has been transforming its merchandising to include more own brands and enhanced category planning. This transformation has not only improved margins but also created a platform for future growth.
3. Volume Increase in Retail Segment: Despite a decline in the Wholesale segment, SpartanNash saw an increase in volume in the Retail segment, which has been a significant driver for net sales and profitability.
4. Military Sales Growth: The military sales channel has shown consistent growth over the past 12 quarters, helping offset pressures within the Wholesale segment.
5. Operating Efficiency Improvements: The company reported a resilient performance with a record adjusted EBITDA of $258.5 million and net earnings of nearly $300,000. This indicates improved operating efficiency and profitability.

In summary, SpartanNash's earnings growth in late 2024 was driven by strategic initiatives, merchandising transformation, volume increase in the Retail segment, military sales growth, and operating efficiency improvements. These factors combined to contribute to the company's financial performance during the period.