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2014 Spartannash Annual Report

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2014 Spartannash Annual Report Annual Report 2014 2014 SpartanNash Annual Report Financial Highlights Net Sales LQELOOLRQV March 2011 $2.53 March 20121 $2.632 March 2013 $2.61 Dec. 20131 $2.60 51 Weeks 12/28/20131 $3.19 53 Weeks 1/3/20151 $7.922 Adjusted EBITDA LQPLOOLRQV March 2011 $104 March 20121 $107 March 2013 $106 Dec. 20131 $97 51 Weeks 12/28/20131 $127 53 Weeks 1/3/20151 $2342 Adjusted Operating Earnings LQPLOOLRQV March 2011 $65 March 20121 $65 March 2013 $63 Dec. 20131 $57 51 Weeks 12/28/20131 $77 53 Weeks 1/3/20151 $1362 7KHDGMXVWHG¿QDQFLDOLQIRUPDWLRQSUHVHQWHGUHÀHFWVQRQ*$$3¿QDQFLDOPHDVXUHV3OHDVHVHHSDJHVDQGSDJHRIWKHHQFORVHG)RUP.IRUWKH UHVSHFWLYHUHFRQFLOLDWLRQVRIWKHVHPHDVXUHV 'ROODUVLQPLOOLRQVH[FHSWSHUVKDUHGDWDDQGSHUFHQWDJHGDWD Year Ended 39 Weeks1 51 Weeks1 53 Weeks1 2011 20121 2013 12/28/2013 12/28/2013 1/3/2015 Net sales $ 2,533 $ 2,6342 $ 2,608 $ 2,597 $ 3,190 $ 7,9162 *URVVSUR¿WPDUJLQ 19.4% 14.6% Adjusted operating earnings 65 65 63 57 77 1362 Adjusted earnings 31 32 31 30 40 702 from continuing operations Adjusted diluted earnings 1.36 1.39 1.43 1.23 1.70 1.852 per share from continuing operations Adjusted EBITDA 104 107 106 97 127 2342 &DVKIURPRSHUDWLQJDFWLYLWLHV 97 139 Total net long term debt 131 112 144 596 596 564 1Fiscal years ended January 3, 2015 and March 31, 2012 include a 53rd week of operations. The year ended December 28, 2013 was a transition year consisting RIZHHNVGXHWRWKHFKDQJHLQRXU¿VFDO\HDUHQGIURPWKHODVW6DWXUGD\LQ0DUFKWRWKH6DWXUGD\FORVHVWWR'HFHPEHU7KHFRPSDUDWLYHXQDXGLWHGSHULRG HQGHG'HFHPEHULQFOXGHGZHHNVDVDUHVXOWRIWKHFKDQJHLQWKH&RPSDQ\¶V¿VFDO\HDUHQG 2Fiscal year ended March 31, 2012 includes a 53rd week of sales totaling $49.8 million. The year ended January 3, 2015 includes a 53rd week of sales totaling $135.2 million, adjusted operating earnings of $3.7 million, adjusted earnings from continuing operations of $2.0 million or $0.05 per diluted share, and adjusted EBITDA of $3.7 million. /HWWHUWRRXU6KDUHKROGHUV $VZHORRNEDFNRQRXU¿UVW\HDURIRSHUDWLRQVDV 6SDUWDQ1DVK&RPSDQ\ZHDUHSOHDVHGZLWKRXU VLJQL¿FDQWDFFRPSOLVKPHQWVDQGJURZWKDVZH FRQWLQXHWRH[HFXWHDJDLQVWRXUORQJWHUPVWUDWHJ\DQG EXLOGDSODWIRUPIRUODVWLQJVKDUHKROGHUYDOXHFUHDWLRQ 'XHWRWKHGLOLJHQFHDQGKDUGZRUNRIRXUPDQDJHPHQW WHDPDQGDVVRFLDWHVZHDFKLHYHGDQXPEHURI PHDQLQJIXOPLOHVWRQHVLQ¿VFDOLQFOXGLQJWKH FRQVROLGDWLRQRINH\FRPSRQHQWVRIRXUUHWDLOGLVWULEXWLRQ DQGPLOLWDU\EXVLQHVVHVDORQJZLWKEDFNHQGRSHUDWLRQV IROORZLQJWKHPHUJHUZLWK1DVK)LQFK:HDOVRLQYHVWHG Craig C. Sturken Dennis Eidson LQRXUVWRUHV¿QHWXQHGRXUSULFLQJDQGSURPRWLRQDO Chairman President and DFWLYLWLHVDQGLPSOHPHQWHGFRVWVDYLQJPHDVXUHV$V Chief Executive Officer DUHVXOWRIRXUHIIRUWVZHUHWXUQHGRXU0LFKLJDQEDVHG VXSHUPDUNHWVWRSRVLWLYHFRPSDUDEOHVWRUHVDOHVIRUWKH\HDUJDLQHGQHZFXVWRPHUVLQRXUGLVWULEXWLRQDQGPLOLWDU\ VHJPHQWVDQGEHQH¿WHGIURPWKHUHDOL]DWLRQRIERWKPHUJHUV\QHUJLHVDQGFRVWUHGXFWLRQLQLWLDWLYHV 2XUFRQVROLGDWHGQHWVDOHVLQFUHDVHGWRELOOLRQODUJHO\GXHWRWKHEHQH¿WRIWKHPHUJHUDQGZHSRVWHG DGMXVWHGHDUQLQJVSHUVKDUHRIIRU¿VFDO ,QDGGLWLRQWRGHOLYHULQJRQRXU¿QDQFLDOVDQGLQYHVWLQJIRUORQJWHUPJURZWKZHFRQWLQXHGRXUFRPPLWPHQWWRUHWXUQLQJ YDOXHWRRXUVKDUHKROGHUVWKURXJKDFRPELQHGPLOOLRQLQVKDUHUHSXUFKDVHVDQGTXDUWHUO\GLYLGHQGSD\PHQWV 2XUUHVXOWVXQGHUVFRUHWKHVXFFHVVDQGSRWHQWLDORIRXUUHWDLOIRRGGLVWULEXWLRQDQGPLOLWDU\EXVLQHVVPRGHOVZKLFK WRJHWKHUZLWKWKHTXDOLW\RIRXUH[FHSWLRQDODVVRFLDWHVZLOOHQDEOHXVWRJURZRXUVDOHVDQGHDUQLQJVLQ¿VFDO DQGEH\RQG Business Segments 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