SpartanNash Q2 net sales up 1.8% to $2.27 bln, profitability improves.

• SpartanNash Q2 net sales up 1.8% to $2.27 bln • Strong profitability from gross margin improvements and acquisitions • C&S Wholesale Grocers transaction expected to close in late 2025

Grand Rapids, Mich. — Food solutions company SpartanNash (NASDAQ: SPTN) reported its second quarter (Q2) 2025 earnings, which exceeded analyst expectations. The company's net sales rose 1.8% to $2.27 billion, while adjusted earnings per share (EPS) came in at $0.54, surpassing the consensus estimate of $0.50. This performance was driven by improved gross margins and contributions from recent acquisitions [1].

SpartanNash's Wholesale segment saw a 3.0% decrease in net sales to $1.51 billion, primarily due to reduced case volumes in national accounts and the elimination of intercompany sales to recently acquired stores. Conversely, the Retail segment experienced a 12.8% increase in net sales to $762.9 million, boosted by incremental sales from recently acquired stores. Retail comparable store sales decreased by 0.5% due to lower unit volumes [1].

Adjusted EBITDA for Q2 2025 rose to $68.7 million from $64.5 million in the prior-year period, reflecting improved Wholesale segment gross margin rates and decreased corporate administrative costs [1]. The company also reported a net earnings miss of $6.19 million, compared to the consensus estimate of $15.50 million, largely due to costs associated with the pending merger and organizational realignment [2].

SpartanNash is currently in the process of being acquired by C&S Wholesale Grocers in a transaction valued at $1.77 billion, representing a 52.5% premium over SpartanNash’s closing price on June 20. The deal is expected to close in late 2025, subject to shareholder and regulatory approvals [1, 3]. Consequently, the company did not provide financial guidance for fiscal 2025 due to the pending transaction.

Analysts remain cautious, with the current average rating on the shares being "hold," and no "strong buy" or "buy" recommendations. The average consensus recommendation for the food retail & distribution peer group is "buy," with Wall Street's median 12-month price target for SpartanNash Co being $26.90 [2].

References:
[1] https://uk.investing.com/news/earnings/spartannash-beats-q2-earnings-estimates-as-margins-improve-93CH-4221225
[2] https://www.tradingview.com/news/reuters.com,2025:newsml_PLX3DEE7C:0-spartannash-q2-sales-rises-adjusted-eps-beats-estimates/
[3] https://www.marketscreener.com/news/spartannash-announces-second-quarter-fiscal-2025-results-ce7c51d9d889f32c