Spartan Stores rings up some fiscal progress
May 6, 2004 1:10 PM, from staff and wire reports
Grand Rapids MI-based Spartan Stores Inc, the nationís eighth-largest grocery distributor, has reported financial results for its fiscal 2004 fourth quarter and year ending March 27, 2004.
Consolidated net sales for the 12-week quarter rose 4.3% to $456.9 million from $438.0 million in the corresponding 12-week period a year ago. The improvement marks the fourth consecutive quarter of year-over-year sales growth in the retail and distribution business segments.
Operating earnings improved to $83,000 versus an operating loss of $6.4 million in the fourth quarter a year earlier. Net earnings for the quarter climbed to $1.7 million, compared with a net loss of $20.9 million in 2003ís fourth quarter.
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