Spartan Stores: Q2 Earnings Snapshot
GRAND RAPIDS, Mich. (AP) — GRAND RAPIDS, Mich. (AP) — Spartan Stores Inc. (SPTN) on Thursday reported second-quarter profit of $19.5 million.
On a per-share basis, the Grand Rapids, Michigan-based company said it had net income of 56 cents. Earnings, adjusted for non-recurring costs, came to 65 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 63 cents per share.
The grocery store operator and grocery distributor posted revenue of $2.31 billion in the period, which missed Street forecasts. Three analysts surveyed by Zacks expected $2.36 billion.
Spartan Stores expects full-year earnings in the range of $2.20 to $2.35 per share, with revenue in the range of $9.65 billion to $9.95 billion.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPTN at https://www.zacks.com/ap/SPTN
