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Spartan Stores reports decreased Q2 earnings, comps


Grand Rapids, Mich. Grocery retailer Spartan Stores reported late Wednesday that consolidated net sales for the second quarter were $610.2 million compared with $626.8 million in the year-ago period.

According to the company, sales were negatively affected by price deflation in certain primary product categories, significantly lower retail fuel prices, a shift in the mix towards more private-label products and the economic downturn.

Net earnings for the quarter were $10.4 million compared with $10.6 million a year earlier.

Second-quarter retail net sales increased 11.3% to $360.2 million from $323.5 million in the same period last year. The retail segment experienced a 5.1% decline in comparable-store sales due to significant deflation in the meat, produce and dairy categories, competitive store openings, unseasonably cool weather in Michigan and the weak economic environment, reported the company.

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