Spartan rings up higher sales in fiscal quarter
Jul 31, 2003 12:00 PM, from staff and wire reportsGrand Rapids MI-based Spartan Stores Inc, the nation’s ninth-largest grocery distributor, has reported financial results for its fiscal 2004 first quarter ending June 21, 2003.
First-quarter consolidated net sales rose 2.3% to $502.0 million from fiscal 2002’s first-quarter sales of $490.8 million and 5.6% from fiscal 2003’s fourth-quarter sales of $475.6 million.
Spartan reported a first-quarter operating loss of $348,000, compared with operating earnings of $8.0 million in the first quarter of 2002.
“We are pleased with our first-quarter sales results and believe the recent fundamental changes to our grocery distribution and retail operations are working,” said Craig C Sturken, Spartan’s president and chief executive officer.