Spartan Stores Earnings: Here’s Why Shares are Down Now
Spartan Stores Inc. (NASDAQ:SPTN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are down 0.06%.
Spartan Stores Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 4.35% to $0.48 in the quarter versus EPS of $0.46 in the year-earlier quarter.
Revenue: Decreased 3.57% to $592.8 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Spartan Stores Inc. reported adjusted EPS income of $0.48 per share. By that measure, the company beat the mean analyst estimate of $0.37. It beat the average revenue estimate of $586.45 million.
Quoting Management: “We are pleased to report that our business generated comparable store sales growth and achieved better than expected earnings for the fourth quarter,” stated Dennis Eidson, Spartan’s President and Chief Executive Officer. “These encouraging results reflect improvement across both our distribution and retail segments as we gained new customers, continued to refine our promotional and loyalty programs and benefitted from the early Easter holiday. We believe that our value proposition in both segments continued to resonate with customers. We will continue to build on this customer-centric platform in fiscal 2014 as we deepen our customer relationships and improve our long-term performance.”
Key Stats (on next page)…