Spartan Stores Posts Q3 Earnings Improvement

Grand Rapids, Mich., In the third quarter ended Jan. 1, Spartan Stores reported third-quarter net earnings from continuing operations of $5.8 million, compared to a net loss from continuing operations of $4.1 million in the same period last year. Third-quarter supermarket comparable-store sales increased 0.9%, but were offset by the lower sales at Pharm stores, resulting in a total third-quarter comparable-store sales decline of 1.2%. Consolidated net sales for the 16-week third quarter were $624.5 million compared with $644.1 million in the corresponding 16-week period last year. Retail sales in the company’s core supermarket operations increased 0.7% for the quarter, but were offset by lower sales at its Pharm stores and distribution operations.