Spartan Stores maintains sales momentum
Oct 16, 2003 12:00 PM, from staff and wire reportsSpartan Stores Inc has reported financial results for its fiscal 2004 second quarter ending Sept 13, 2003.
Second-quarter consolidated net sales increased 3.8% to $491.4 million from 2002's second-quarter sales of $473.3 million. The rise in sales represents the second consecutive quarter of year-over-year sales improvement. Second-quarter net earnings totaled $1.8 million, versus a net loss of $0.6 million in 2002's second quarter.
For the 24 weeks ending Sept 13, 2003, Spartan saw a 3.2% climb in consolidated net sales to $953.9 million compared with $924.8 million in the same period a year ago. Net loss for the year-to-date period narrowed to $4.3 million, versus $44.3 million in the same period a year earlier.