SpartanNash Company (NASDAQ:SPTN) Q4 2021 Earnings Conference Call February 24, 2022 8:30 AM ET Company Participants Chris Mandeville - Managing Director of Investor Relations Jason Monaco - Executive Vice President & Chief Financial Officer Tony Sarsam - President & Chief Executive Officer Conference Call Participants Chuck Cerankosky - Northcoast Research Spencer Hanus - Wolfe Research Scott Mushkin - R5 Kelly Bania - BMO Capital Markets Operator Good day and welcome to the SpartanNash Company's Fourth Qu ...

Financial Highlights - Net sales for Q4 2021 reached $2.1 billion[8], while total net sales for fiscal year 2021 amounted to $9.348 billion[11] - Retail comparable store sales increased by 7.3% in Q4 2021[8] and 16.9% compared to Q4 2019[8] - Gross margin for Q4 2021 was 15.4%, a 37 bps increase compared to Q4 2020[8] - Net earnings for Q4 2021 were $22.2 million[8], and adjusted EBITDA was $43.0 million[8] - Adjusted EBITDA for fiscal year 2021 was $214 million[11] Strategic Initiatives and Investments - The company provided an average of +10% in pay increases for all entry-level roles in retail and supply chain[18] - The company optimized its national network by closing two redundant warehouses and opening a new distribution center[21] - The company expects capital expenditures and IT capital to be between $100 million and $110 million in fiscal year 2022[26] Fiscal Year 2022 Guidance - The company projects net sales of $8.9 - $9.1 billion for fiscal year 2022[26] - Adjusted EBITDA is expected to be in the range of $214 - $229 million for fiscal year 2022[26] - Adjusted EPS is projected to be $2.10 - $2.25 for fiscal year 2022[26]

SpartanNash Company (NASDAQ:SPTN) Q3 2021 Earnings Conference Call November 11, 2021 8:00 AM ET Company Participants Chris Mandeville - Managing Director of Investor Relations Tony Sarsam - President & Chief Executive Officer Jason Monaco - Executive Vice President & Chief Financial Officer Conference Call Participants Charles Cerankosky - Northcoast Research Scott Mushkin - R5 Capital Kelly Bania - BMO Capital Krisztina Katai - Deutsche Bank Operator Good morning, and welcome to the SpartanNash Company Thi ...

Financial Data and Key Metrics Changes - Net sales for Q2 2021 decreased by 3.6% or $77.5 million to $2.11 billion compared to Q2 2020 sales of $2.18 billion [23] - GAAP EPS for the quarter was $0.47 per diluted share, down from $0.80 per share in Q2 2020 [23] - Adjusted EPS for the quarter was $0.54 compared to $0.73 in the prior year [24] - Adjusted EBITDA was $54.4 million, compared to $59.2 million in the prior year quarter [31] Business Line Data and Key Metrics Changes - Food distribution net sales decreased by $33.3 million or 3.1% to $1.06 billion, with operating earnings of $16.7 million compared to $14.4 million in the prior year [25] - Retail net sales were $620 million, down 1.8% from $631.3 million in Q2 2020, with comparable store sales down 2.7% but up 12.1% on a two-year basis [27] - Military segment net sales were $430 million, a decrease of about $33 million compared to prior year revenues of $463 million, with operating losses of $3.5 million [29][30] Market Data and Key Metrics Changes - The company experienced a decline in domestic traffic across the DeCA channel, with overall transaction count down over 12% from the prior year at domestic commissaries [29] - Inflation in the food distribution business was running around 3% by the end of the quarter, with significant movements between categories [50] Company Strategy and Development Direction - The company is focused on a supply chain transformation initiative aimed at improving operational efficiency and reducing costs, with expected benefits of 15 to 30 basis points on a run rate basis [21] - The company plans to hold an Investor Day in December to update on strategic enhancements and supply chain transformation progress [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about momentum heading into the second half of the year, leading to an improved full-year guidance [7] - The company is facing challenges with labor shortages and rising costs but is taking proactive measures to attract and retain talent [15][16] - Management noted that inflationary pressures are being felt across the supply chain, but they expect to pass some of these costs onto consumers [55] Other Important Information - The company strategically reduced inventory by over $60 million during the quarter, which is expected to help maintain working capital levels [8][44] - The company declared $7.1 million in cash dividends and repurchased 265,000 shares during the quarter [31] Q&A Session Summary Question: Can you elaborate on the supply chain transformation and expected margin benefits? - Management indicated that improvements from the supply chain transformation program are expected to begin late this year or early next year, with a small benefit included in current guidance [41] Question: Will the $60 million inventory reduction continue into the back end of the year? - Management stated that the inventory reduction was strategically targeted and they expect levels to remain relatively stable, with some variability based on buying opportunities [44] Question: How is the company addressing inflation and labor shortages? - Management noted that inflation is being monitored closely, with expectations to pass through costs to consumers, while also addressing labor shortages through wage increases and improved hiring practices [55][72] Question: What are the expectations for military sales recovery? - Management acknowledged the challenges faced by the DeCA channel and emphasized their commitment to working with them to regain customer loyalty and improve profitability [64] Question: How is the product mix in the Food Distribution segment changing post-pandemic? - Management highlighted a shift back towards fresh categories and value-added products, with expectations for continued growth in these areas [78][81]

SpartanNash Company (NASDAQ:SPTN) Q1 2021 Earnings Conference Call June 3, 2021 8:00 AM ET Company Participants Chris Mandeville - Managing Director of Investor Relations Tony Sarsam - President and Chief Executive Officer Jason Monaco - Executive Vice President and Chief Financial Officer Conference Call Participants Spencer Hanus - Wolfe Research Chuck Cerankosky - Northcoast Research Peter Saleh - BTIG Scott Mushkin - R5 Capital Matt Fishbein - Jefferies Damon Polistina - Deutsche Bank Kelly Bania - BMO ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Michigan 38-0593940 (State or Other Jurisdiction) of Incorporation or Organization) WASHINGTON, D.C. 20549 850 76th Street, S.W. P.O. Box 8700 Grand Rapids, Michigan 49518-8700 (Address of Principal Executive Offices) (Zip Code) FORM 10-K ☒ Annual report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended January 2, 2021. (I.R.S. Employer Identification No.) OR ☐ Transition report pursuant to Section 13 or 15(d) of ...

Financial Data and Key Metrics Changes - The company reported a net sales increase of 12.5% or $249 million to $2.25 billion in Q4 2020 compared to $2 billion in Q4 2019, including the impact of the 53rd week [23] - Adjusted EPS for Q4 was $0.43 per diluted share, an increase of 87% from $0.23 in Q4 2019, while GAAP EPS rose to $0.34 from $0.15 [24] - The net debt-to-adjusted-EBITDA leverage ratio improved to 2 times from 3.7 times at the start of the year, reflecting increased flexibility for reinvestment [13][37] Business Segment Data and Key Metrics Changes - Food Distribution net sales increased by approximately 18% to $1.11 billion, driven by sales growth with existing customers and the impact of COVID-19 [26] - Retail net sales rose by 14.5% to $627 million, with comparable store sales at 8.7% for Q4, benefiting from the consumer shift towards food at home [29][30] - Military net sales increased slightly to $514 million, but continued access restrictions due to COVID-19 impacted overall sales [33] Market Data and Key Metrics Changes - Inflation in Food Distribution declined to 80 basis points in Q4 from 1.12% in Q3 and 1.39% in Q4 2019, primarily due to moderating produce prices [27] - Retail experienced deflation of 14 basis points in Q4, a shift from inflation of 1.35% in Q3 and 1.33% in the prior year [31] Company Strategy and Development Direction - The company plans to focus on improving supply chain efficiency and investing in associate experience, distribution service levels, and private brand penetration in 2021 [16][18] - A new distribution center in Severn, Maryland, has been opened to alleviate stress on existing facilities and support long-term growth [18] - The company aims to streamline operations and position itself for profitable long-term growth despite uncertainties related to consumer behavior and the pandemic [21] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the uncertainty in 2021 due to evolving consumer behavior and the pandemic but emphasized a focus on controllable business fundamentals [21] - The company expects consolidated net sales to decline by approximately 4% to 6% in fiscal 2021, with specific declines anticipated in Food Distribution and Retail segments [38][39] Other Important Information - The company generated free cash flow of $239 million in fiscal 2020, up from $105 million in fiscal 2019, allowing for significant debt repayment [35] - Fiscal 2021 guidance includes expected adjusted earnings per share ranging from $1.65 to $1.80, down from $2.53 in 2020 [39] Q&A Session Summary Question: Competitive landscape and changes post-holiday - Management noted a return towards pre-COVID promotional levels in retail, with no significant deviations observed in early 2021 [50] Question: Drivers of inflation turning negative at retail - Management explained that grocery, produce, dairy, and frozen categories shifted from inflationary to deflationary in Q4, with expectations of continued deflation into 2021 [53][54] Question: Wage standpoint and potential investments - Management is monitoring minimum wage legislation but has not included changes in the current budget, remaining vigilant on wage inflation [56][57] Question: Retail EBITDA margins and 2021 cadence - Management indicated that sequential changes in retail margins were influenced by corporate expense allocations and one-time expenses, with expectations for moderation in 2021 [60][62] Question: Trends in retail and food distribution - Management refrained from commenting on intra-quarter trends but confirmed that current expectations align with fiscal 2021 guidance [71] Question: Gross margin dynamics in 2021 - Management highlighted that improved shrink levels during fiscal 2020 contributed to gross margin, but some normalization is expected in 2021 [73][76] Question: Broader retail strategy and potential simplifications - Management emphasized the importance of operational efficiency and strengthening retail offerings, with no immediate plans for banner consolidation [82] Question: Military business strategy and profitability - Management committed to improving operational efficiencies in the military segment to enhance profitability and service to military personnel [111]

SpartanNash Company (NASDAQ:SPTN) Q3 2020 Results Earnings Conference Call November 12, 2020 8:00 AM ET Company Participants Chris Mandeville - MD, ICR, Inc. Tony Sarsam - President and CEO Mark Shamber - EVP and CFO Conference Call Participants Charles Cerankosky - Northcoast Research Scott Mushkin - R5 Capital Greg Badishkanian - Wolfe Research Kelly Bania - BMO Capital markets Damon Polistina - Deutsche Bank Peter Saleh - BTIG Operator Good morning, and welcome to the SpartanNash Company Third Quarter 20 ...

SpartanNash Company (NASDAQ:SPTN) Q2 2020 Results Earnings Conference Call August 13, 2020 8:00 AM ET Company Participants Katie Turner - Investor Relations, ICR, Inc. Dennis Eidson - Interim President and Chief Executive Officer Mark Shamber - Executive Vice President and Chief Financial Officer Conference Call Participants Caitlin Howard - Barclays Capital Scott Mushkin – R5 Capital Stephen Caputo - BMO Capital Markets Corey Grady - Jefferies Peter Saleh - BTIG Operator Good day, and welcome to the Sparta ...

Financial Data and Key Metrics Changes - Consolidated net sales increased over 12% to $2.86 billion, marking the 16th consecutive quarter of growth [22][41] - Adjusted EPS for Q1 2020 was $0.67 per diluted share, up over 179% from $0.24 in Q1 2019 [41] - GAAP earnings were $0.43 per diluted share, a 105% increase from $0.21 in Q1 2019 [44] - Operating cash flows improved to $129.3 million from $13.5 million year-over-year [56] - Free cash flow was positive at $111 million compared to negative $2 million in the prior year [58] - Total net long-term debt decreased by $88.4 million to $576 million [59] Business Segment Data and Key Metrics Changes - Food Distribution segment net sales increased by $200 million or 17.1% to $1.37 billion [45] - Military segment net sales increased by $33 million or 4.9% to $704 million [48] - Retail segment net sales rose by 11.5% to $783 million, with comparable store sales improving to 16.6% [50] - E-commerce sales increased over 300% in the last six weeks of the quarter [51] Market Data and Key Metrics Changes - Retail comp store sales were positive for the third consecutive quarter, driven by COVID-19 [23] - Inflation in Food Distribution accelerated to 2.05%, up 66 basis points from Q4 [45] - Military distribution reported an operating loss of $2 million, compared to a loss of $1.6 million in Q1 2019 [49] Company Strategy and Development Direction - The company is committed to long-term strategies to sustain profitable growth despite the challenges posed by COVID-19 [21] - Initiatives include improving working capital levels and exiting underperforming businesses [20] - The company is focusing on enhancing its e-commerce platform and understanding consumer preferences [29] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's ability to respond to increased consumer demand during the pandemic [19] - The ongoing COVID-19 pandemic has led to significant changes in consumer behavior, with a shift towards food at home consumption [24] - The company anticipates continued strong performance in the second quarter, with adjusted EPS expected to increase 70% to 100% over the prior year [62] Other Important Information - The company has implemented various safety measures in response to COVID-19, including increased compensation for frontline associates [17][18] - The Board of Directors is in the process of identifying a new CEO [38] Q&A Session Summary Question: Can you help us understand margin flow at Retail? - Management indicated that they do not typically provide detailed breakdowns but noted a retail comp of just under 23% for the first five weeks of the quarter [70] Question: What are the trends in SNAP benefits? - EBT sales were negative in the first 10 weeks but increased by 45% in the last six weeks of the quarter and 113% in the first five weeks of Q2 [74] Question: Can you discuss distribution strength pre-COVID? - Management noted that Food Distribution exceeded expectations with a 9.5% increase in the first 10 weeks, but the surge in volume posed challenges for supply chain efficiency [77][78] Question: How is the company addressing warehouse capacity? - Management stated that improvements in working capital have provided additional capacity, but future needs will depend on sustained sales trends [108] Question: What is the outlook for capital spending? - Management indicated that they will adjust capital spending based on ongoing sales rates and potential needs for additional capacity [107]