|Over a month ago|
SpartanNash announces bonus pay for frontline staff » 16:0604/0304/03/20
SpartanNash announced more than 16,000 part- and full-time hourly frontline associates will receive an additional $2 per hour for all hours worked between April 5 and 25. The frontline bonus pay will apply to hourly SpartanNash associates working in its 155 company-owned stores, Caito Foods facilities and 18 distribution centers. This frontline bonus pay is in addition to an associate appreciation bonus for all hourly frontline associates, which provided each associate with an additional $25 bonus each week between March 1 and April 25. The company has also enhanced its associate discount in its company-owned retail stores to 20% off during the same timeframe. SpartanNash has also invested in personal protective equipment, sneeze guards, increased safety and sanitation measures and additional staffing.
SpartanNash upgraded to Equal Weight from Underweight at Barclays » 07:4903/1903/19/20
Barclays analyst Karen…
Barclays analyst Karen Short upgraded SpartanNash to Equal Weight from Underweight with a $15 price target.
SpartanNash says military resale channel supply chain strong » 17:2303/1803/18/20
SpartanNash announced its…
SpartanNash announced its MDV military distribution operations continue to ship products to Defense Commissary Agency commissaries and Army and Air Force Exchange Service and Navy Exchange Service Command exchanges despite the impact of the coronavirus on communities throughout the world.
SpartanNash upgraded to Market Perform from Underperform at BMO Capital » 05:0803/1803/18/20
BMO Capital analyst Kelly…
BMO Capital analyst Kelly Bania upgraded SpartanNash to Market Perform from Underperform with a price target of $14, up from $10. Near-term grocery trends due to effects of the coronavirus are benefiting all grocers, Bania tells investors in a research note. The analyst, however, believes that longer-term pressures for small and regional grocers "that were clearly in progress are likely to return" at some point. As such, Bania may revisit a more cautious thesis down the road.
SpartanNash to hire displaced workers, students for temporary positions » 17:3903/1703/17/20
SpartanNash announced an…
SpartanNash announced an initiative to hire displaced workers and students in its nine-state retail footprint and 14-state distribution network for temporary positions which may turn into permanent career opportunities. This hiring initiative is due to unprecedented retail and distribution sales volume trending at two to three times normal sales levels at some locations since the onset of the coronavirus. SpartanNash, one of the nation's largest food distributors, operates more than 150 corporate owned retail stores, distributes to more than 2,000 independent retail locations in all 50 states, and is a leading distributor to US military commissaries around the world. "During this unprecendented time of growing consumer need and uncertainty, SpartanNash is on the frontlines ensuring our customers have access to the food, medicine and household goods they need," said Dennis Eidson, SpartanNash's Interim President and Chief Executive Officer. "Our family of associates is working hard to keep our independent customers, military commissaries and our own retail stores shelves stocked with household essentials, and to continue to serve as a trusted provider of food products, which has been our driving force for more than 100 years. We recognize in many of our rural communities, we are the sole grocery provider and tens of thousands of families and neighbors are relying on us."
SpartanNash raises quarterly dividend to 19.25c per share from 19c » 16:2502/2702/27/20
SpartanNash announced that its Board of Directors has approved a quarterly cash dividend of 19.25c per common share, representing an increase from its fiscal 2019 quarterly cash dividend of 19c. The dividend will be paid on March 31, 2020 to shareholders of record as of the close of business on March 10, 2020. As of February 26, 2020, there were 36,348,831 common shares outstanding.
|Over a quarter ago|
Fly Intel: After Hours Movers » 19:1002/1902/19/20
STMP, SREV, Z, CAR, CYH, NE, MANT, XEC, CYBE, UCTT, TRN, MX, IMAX, SM, GDOT, SNBR, PXD, SPN, LASR, AJRD, SUN, MASI, ALB, TVTY, OSUR, NVTA, SAM, BCOV, LOPE, SPTN, UAN, CRMT, QTWO, INOV, SNPS, RETA, CAKE, CONE, VMI, JACK, H, TS, AXGT, BTAI, HRTX, IRT, TEVA
UP AFTER EARNINGS:…
UP AFTER EARNINGS: Stamps.com (STMP) up 31.4%... ServiceSource (SREV) up 16.1%... Zillow Group (Z) up 15.1%... Avis Budget (CAR) up 12.3%... Community Health (CYH) up 11.0%... Noble Corp (NE) up 11.0%... ManTech (MANT) up 9.4%... Cimarex Energy (XEC) up 8.2%... CyberOptics (CYBE) up 7.8%... Ultra Clan (UCTT) up 7.3%... Trinity Industries (TRN) up 6.3%... MagnaChip Semi (MX) up 4.8%... Imax Corp (IMAX) up 3.8%... SM Energy (SM) up 3.6%... Green Dot (GDOT) up 3.2%... Sleep Number (SNBR) up 3.0%... Pioneer Natural (PXD) up 2.7%... Superior Energy (SPN) up 2.7%... nLight (LASR) up 2.6%... Aerojet Rocketdyne (AJRD) up 2.6%... Sunoco (SUN) up 2.4%... Masimo Corp (MASI) up 1.5%... Albemarle (ALB) up 1.3%. DOWN AFTER EARNINGS: Tivity Health (TVTY) down 33.7%... OraSure Technologies (OSUR) down 15.7%... Invitae (NVTA) down 10.9%... Boston Beer Co (SAM) down 9.1%... Brightcove (BCOV) down 8.7%... Grand Canyon Education (LOPE) down 7.2%... Grand Canyon Education (LOPE) down 7.2%... SpartanNash (SPTN) down 6.2%... CVR Partners (UAN) down 5.5%... America's Carmart (CRMT) down 3.5%... Q2 Holdings (QTWO) down 3.2%... Inovalon (INOV) down 3.2%... Synopsys (SNPS) down 3.0%... Reata Pharma (RETA) down 2.3%... Cheesecake Factory (CAKE) down 2.2%... CyrusOne (CONE) down 2.1%... Valmont Industries (VMI) down 2.0%... Jack in the Box (JACK) down 1.8%... Hyatt (H) down 1.3%... Tenaris (TS) down 1.3%. ALSO LOWER: Axovant Gene Therapies (AXGT) down 11.6% after equity offering... BioXcel Therapeutics (BTAI) down 10.1% after equity offering... Heron Therapeutics (HRTX) down 8.6% after FDA extended review period for HTX-011 NDA... Independence Realty Trust (IRT) down 4.6% after equity offering... Teva Pharma (TEVA) down 4.1% after Phase 2/3 trials in deutetrabenazine failed to meet the primary endpoints. Movers as of 18:30ET.
SpartanNash sees low-single digit percentage sales growth for fiscal year » 16:1802/1902/19/20
The company said,…
The company said, "For the 53-week fiscal year ending January 2, 2021, the Company anticipates low-single digit percentage sales growth. On a 52-week basis, the Company expects the Food Distribution segment will continue to achieve mid-single digit sales growth driven by existing customers and new business, partially offset by attrition in the independent retail base and the closure of the Fresh Kitchen operations. The Company expects positive Retail segment comparable sales for fiscal 2020 to range from 0.1% to 0.7%. In the Military Distribution segment, the Company expects a continued decline in the DeCA comparable sales trend, partially offset by growth in DeCA private brands, resulting in a mid-single digit percentage sales decline. The Company will also benefit from an additional week of sales compared to the 52-week year ended December 28, 2019, which will be reflected in the Company's fourth quarter fiscal 2020 results."
SpartanNash sees FY20 adjusted EBITDA $180M-$190M vs. $177.9M in 2019 16:1702/1902/19/20
SpartanNash sees FY20 adjusted EPS $1.12-$1.20, consensus $1.24 » 16:1702/1902/19/20
The company said,…
The company said, "For fiscal year 2020, the Company anticipates adjusted earnings per share from continuing operations(4) of approximately $1.12 to $1.20, excluding restructuring charges, merger/acquisition and integration expenses and other adjusted items totaling $7.5 million to $9.0 million before taxes, as detailed in Table 7. The favorable contributions from initiatives associated with Project One Team are expected to be partially offset by the increase in costs to achieve normalized incentive compensation levels. The Company anticipates that reported earnings from continuing operations will be in the range of approximately $0.93 to $1.04 per diluted share, compared to earnings from continuing operations of $0.16 per diluted share in fiscal 2019. The anticipated adjusted and reported earnings per share from continuing operations include approximately $0.02 in benefits from the 53rd week in fiscal 2020 as compared to 52-weeks in fiscal 2019...With the low volume post-Easter week moving into fiscal 2020's first quarter, the Company expects Retail comparable sales to be approximately flat. Adjusted diluted earnings per share from continuing operations for the first quarter of fiscal 2020 are expected to be slightly above the first quarter of fiscal 2019."