Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jul. 17, 2021 | Aug. 17, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Jul. 17, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Trading Symbol | SPTN | |
Entity Registrant Name | SPARTANNASH COMPANY | |
Entity Central Index Key | 0000877422 | |
Current Fiscal Year End Date | --01-01 | |
Entity Filer Category | Large Accelerated Filer | |
Entity Small Business | false | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 35,938,249 | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity File Number | 000-31127 | |
Entity Tax Identification Number | 38-0593940 | |
Entity Address, Address Line One | 850 76th Street, S.W. | |
Entity Address, Address Line Two | P.O. Box 8700 | |
Entity Address, City or Town | Grand Rapids | |
Entity Address, State or Province | MI | |
Entity Address, Postal Zip Code | 49518 | |
City Area Code | 616 | |
Local Phone Number | 878-2000 | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity Incorporation, State or Country Code | MI | |
Entity Interactive Data Current | Yes | |
Title of 12(b) Security | Common Stock, no par value | |
Security Exchange Name | NASDAQ |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands | Jul. 17, 2021 | Jan. 02, 2021 |
Current assets | ||
Cash and cash equivalents | $ 24,136 | $ 19,903 |
Accounts and notes receivable, net | 370,669 | 357,564 |
Inventories, net | 538,494 | 541,785 |
Prepaid expenses and other current assets | 59,621 | 72,229 |
Property and equipment held for sale | 23,259 | |
Total current assets | 992,920 | 1,014,740 |
Property and equipment, net | 567,043 | 577,059 |
Goodwill | 181,035 | 181,035 |
Intangible assets, net | 113,335 | 116,142 |
Operating lease assets | 264,231 | 289,173 |
Other assets, net | 90,583 | 99,242 |
Total assets | 2,209,147 | 2,277,391 |
Current liabilities | ||
Accounts payable | 441,888 | 464,784 |
Accrued payroll and benefits | 90,398 | 113,789 |
Other accrued expenses | 65,822 | 60,060 |
Current portion of operating lease liabilities | 44,720 | 45,786 |
Current portion of long-term debt and finance lease liabilities | 5,719 | 5,135 |
Total current liabilities | 648,547 | 689,554 |
Long-term liabilities | ||
Deferred income taxes | 54,442 | 45,728 |
Operating lease liabilities | 254,114 | 278,859 |
Other long-term liabilities | 50,294 | 46,892 |
Long-term debt and finance lease liabilities | 445,574 | 481,309 |
Total long-term liabilities | 804,424 | 852,788 |
Commitments and contingencies (Note 7) | ||
Shareholders’ equity | ||
Common stock, voting, no par value; 100,000 shares authorized; 35,943 and 35,851 shares outstanding | 490,870 | 491,819 |
Preferred stock, no par value, 10,000 shares authorized; no shares outstanding | ||
Accumulated other comprehensive loss | (2,175) | (2,276) |
Retained earnings | 267,481 | 245,506 |
Total shareholders’ equity | 756,176 | 735,049 |
Total liabilities and shareholders’ equity | $ 2,209,147 | $ 2,277,391 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Jul. 17, 2021 | Jan. 02, 2021 |
Statement Of Financial Position [Abstract] | ||
Common stock, par value | ||
Common stock, shares authorized | 100,000,000 | 100,000,000 |
Common stock, shares outstanding | 35,943,000 | 35,851,000 |
Preferred stock, par value | ||
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares outstanding | 0 | 0 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF EARNINGS (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Income Statement [Abstract] | ||||
Net sales | $ 2,106,560 | $ 2,184,101 | $ 4,764,359 | $ 5,040,557 |
Cost of sales | 1,772,933 | 1,845,727 | 4,012,702 | 4,278,616 |
Gross profit | 333,627 | 338,374 | 751,657 | 761,941 |
Operating expenses | ||||
Selling, general and administrative | 304,248 | 300,727 | 692,185 | 692,027 |
Acquisition and integration | 121 | 180 | ||
Restructuring and asset impairment, net | 3,337 | 3,675 | 3,176 | 13,912 |
Total operating expenses | 307,706 | 304,402 | 695,541 | 705,939 |
Operating earnings | 25,921 | 33,972 | 56,116 | 56,002 |
Other expenses and (income) | ||||
Interest expense | 3,267 | 3,650 | 7,856 | 11,288 |
Other, net | (10) | (63) | (276) | (1,104) |
Total other expenses, net | 3,257 | 3,587 | 7,580 | 10,184 |
Earnings before income taxes | 22,664 | 30,385 | 48,536 | 45,818 |
Income tax expense | 5,850 | 1,918 | 12,206 | 1,949 |
Net earnings | $ 16,814 | $ 28,467 | $ 36,330 | $ 43,869 |
Basic net earnings per share: | $ 0.47 | $ 0.80 | $ 1.02 | $ 1.22 |
Diluted net earnings per share: | $ 0.47 | $ 0.80 | $ 1.01 | $ 1.22 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Statement Of Income And Comprehensive Income [Abstract] | ||||
Net earnings | $ 16,814 | $ 28,467 | $ 36,330 | $ 43,869 |
Other comprehensive income, before tax | ||||
Postretirement liability adjustment | 57 | 27 | 133 | 133 |
Income tax expense related to items of other comprehensive income | (13) | (7) | (32) | (33) |
Total other comprehensive income, after tax | 44 | 20 | 101 | 100 |
Comprehensive income | $ 16,858 | $ 28,487 | $ 36,431 | $ 43,969 |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Total | Impact of Adoption of New Standard [Member] | Common Stock [Member] | Accumulated Other Comprehensive Loss [Member] | Retained Earnings [Member] | Retained Earnings [Member]Impact of Adoption of New Standard [Member] |
Balance, value at Dec. 28, 2019 | $ 687,538 | $ (1,612) | $ 490,233 | $ (1,600) | $ 198,905 | $ (1,612) |
Balance, shares at Dec. 28, 2019 | 36,351 | |||||
Accounting Standards Update [Extensible List] | ASU 2016-13 [Member] | |||||
Net earnings | 15,402 | 15,402 | ||||
Other comprehensive income | 80 | 80 | ||||
Dividends | (6,997) | (6,997) | ||||
Share repurchase, value | (10,000) | $ (10,000) | ||||
Share repurchase, shares | (861) | |||||
Stock-based employee compensation | 2,342 | $ 2,342 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan | 291 | $ 291 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan, shares | 21 | |||||
Issuances of restricted stock, shares | 293 | |||||
Cancellations of stock-based awards, value | (1,352) | $ (1,352) | ||||
Cancellations of stock-based awards, shares | (122) | |||||
Balance, value at Apr. 18, 2020 | 685,692 | $ 481,514 | (1,520) | 205,698 | ||
Balance, shares at Apr. 18, 2020 | 35,682 | |||||
Balance, value at Dec. 28, 2019 | 687,538 | $ (1,612) | $ 490,233 | (1,600) | 198,905 | $ (1,612) |
Balance, shares at Dec. 28, 2019 | 36,351 | |||||
Net earnings | 43,869 | |||||
Other comprehensive income | 100 | |||||
Balance, value at Jul. 11, 2020 | 709,251 | $ 483,484 | (1,500) | 227,267 | ||
Balance, shares at Jul. 11, 2020 | 35,842 | |||||
Balance, value at Apr. 18, 2020 | 685,692 | $ 481,514 | (1,520) | 205,698 | ||
Balance, shares at Apr. 18, 2020 | 35,682 | |||||
Net earnings | 28,467 | 28,467 | ||||
Other comprehensive income | 20 | 20 | ||||
Dividends | (6,898) | (6,898) | ||||
Stock-based employee compensation | 1,904 | $ 1,904 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan | 100 | $ 100 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan, shares | 6 | |||||
Issuances of restricted stock, shares | 159 | |||||
Cancellations of stock-based awards, value | (34) | $ (34) | ||||
Cancellations of stock-based awards, shares | (5) | |||||
Balance, value at Jul. 11, 2020 | 709,251 | $ 483,484 | (1,500) | 227,267 | ||
Balance, shares at Jul. 11, 2020 | 35,842 | |||||
Balance, value at Jan. 02, 2021 | $ 735,049 | $ 491,819 | (2,276) | 245,506 | ||
Balance, shares at Jan. 02, 2021 | 35,851 | 35,851 | ||||
Net earnings | $ 19,516 | 19,516 | ||||
Other comprehensive income | 57 | 57 | ||||
Dividends | (7,238) | (7,238) | ||||
Stock-based employee compensation | 4,185 | $ 4,185 | ||||
Stock warrant | 645 | 645 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan | 385 | $ 385 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan, shares | 21 | |||||
Issuances of restricted stock, shares | 523 | |||||
Cancellations of stock-based awards, value | (2,079) | $ (2,079) | ||||
Cancellations of stock-based awards, shares | (129) | |||||
Balance, value at Apr. 24, 2021 | 750,520 | $ 494,955 | (2,219) | 257,784 | ||
Balance, shares at Apr. 24, 2021 | 36,266 | |||||
Balance, value at Jan. 02, 2021 | $ 735,049 | $ 491,819 | (2,276) | 245,506 | ||
Balance, shares at Jan. 02, 2021 | 35,851 | 35,851 | ||||
Net earnings | $ 36,330 | |||||
Other comprehensive income | 101 | |||||
Balance, value at Jul. 17, 2021 | $ 756,176 | $ 490,870 | (2,175) | 267,481 | ||
Balance, shares at Jul. 17, 2021 | 35,943 | 35,943 | ||||
Balance, value at Apr. 24, 2021 | $ 750,520 | $ 494,955 | (2,219) | 257,784 | ||
Balance, shares at Apr. 24, 2021 | 36,266 | |||||
Net earnings | 16,814 | 16,814 | ||||
Other comprehensive income | 44 | 44 | ||||
Dividends | (7,117) | (7,117) | ||||
Share repurchase, value | (5,325) | $ (5,325) | ||||
Share repurchase, shares | (265) | |||||
Stock-based employee compensation | 872 | $ 872 | ||||
Stock warrant | 430 | 430 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan | 113 | $ 113 | ||||
Issuances of common stock for stock bonus plan and associate stock purchase plan, shares | 6 | |||||
Issuances of restricted stock, shares | 27 | |||||
Cancellations of stock-based awards, value | (175) | $ (175) | ||||
Cancellations of stock-based awards, shares | (91) | |||||
Balance, value at Jul. 17, 2021 | $ 756,176 | $ 490,870 | $ (2,175) | $ 267,481 | ||
Balance, shares at Jul. 17, 2021 | 35,943 | 35,943 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF SHAREHOLDERS' EQUITY (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 4 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Apr. 24, 2021 | Apr. 18, 2020 | |
Statement Of Stockholders Equity [Abstract] | ||||
Dividends per share | $ 0.20 | $ 0.1925 | $ 0.20 | $ 0.1925 |
CONDENSED CONSOLIDATED STATEM_5
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 17, 2021 | Jul. 11, 2020 | |
Cash flows from operating activities | ||
Net earnings | $ 36,330 | $ 43,869 |
Adjustments to reconcile net earnings to net cash provided by operating activities: | ||
Non-cash restructuring, asset impairment, and other charges | 3,363 | 12,323 |
Depreciation and amortization | 49,497 | 48,126 |
Non-cash rent | (1,756) | (3,618) |
LIFO expense | 4,557 | 2,771 |
Postretirement benefits expense | 863 | 52 |
Deferred income taxes | 8,714 | (2,100) |
Stock-based compensation expense | 5,057 | 4,246 |
Stock warrant | 1,075 | |
(Gain) loss on disposals of assets | (262) | 3,368 |
Other operating activities | 508 | 754 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (12,622) | (30,576) |
Inventories | (1,537) | (18,218) |
Prepaid expenses and other assets | (9,354) | (7,207) |
Accounts payable | (10,305) | 104,957 |
Accrued payroll and benefits | (22,781) | 31,633 |
Current income taxes | 15,123 | 3,140 |
Other accrued expenses and other liabilities | 7,112 | 4,728 |
Net cash provided by operating activities | 73,582 | 198,248 |
Cash flows from investing activities | ||
Purchases of property and equipment | (39,838) | (30,609) |
Net proceeds from the sale of assets | 28,406 | 8,002 |
Loans to customers | (180) | (822) |
Payments from customers on loans | 1,590 | 1,592 |
Other investing activities | (16) | (7) |
Net cash used in investing activities | (10,038) | (21,844) |
Cash flows from financing activities | ||
Proceeds from senior secured credit facility | 753,619 | 675,806 |
Payments on senior secured credit facility | (787,996) | (805,621) |
Repayment of other long-term debt and finance lease liabilities | (3,232) | (3,774) |
Share repurchases | (5,325) | (10,000) |
Net payments related to stock-based award activities | (2,254) | (1,389) |
Dividends paid | (14,274) | (20,771) |
Other financing activities | 151 | (182) |
Net cash used in financing activities | (59,311) | (165,931) |
Net increase in cash and cash equivalents | 4,233 | 10,473 |
Cash and cash equivalents at beginning of period | 19,903 | 24,172 |
Cash and cash equivalents at end of period | $ 24,136 | $ 34,645 |
Summary of Significant Accounti
Summary of Significant Accounting Policies and Basis of Presentation | 6 Months Ended |
Jul. 17, 2021 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies and Basis of Presentation | Note 1 – Summary of Significant Accounting Policies and Basis of Presentation The accompanying unaudited condensed consolidated financial statements are prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and include the accounts of SpartanNash Company and its subsidiaries (“SpartanNash” or “the Company”). Intercompany accounts and transactions have been eliminated. For further information, refer to the consolidated financial statements and footnotes included in the Company’s Annual Report on Form 10-K for the year ended January 2, 2021. In the opinion of management, the accompanying condensed consolidated financial statements, taken as a whole, contain all adjustments, including normal recurring items, necessary to present fairly the financial position of SpartanNash as of July 17, 2021, and the results of its operations and cash flows for the interim periods presented. Interim results are not necessarily indicative of results for a full year. The unaudited information in the condensed consolidated financial statements for the second quarter and year-to-date periods of 2021 and 2020 include the results of operations of the Company for the 12- and 28-week periods ended July 17, 2021 and July 11, 2020, respectively. |
Adoption of New Accounting Stan
Adoption of New Accounting Standards and Recently Issued Accounting Standards | 6 Months Ended |
Jul. 17, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Adoption of New Accounting Standards and Recently Issued Accounting Standards | Note 2 – Adoption of New Accounting Standards and Recently Issued Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses”. The ASU changed the impairment model for most financial assets and certain other instruments. The standard requires entities to use a forward-looking “expected loss” model that replaces the previous “incurred loss” model, which generally results in earlier recognition of credit losses. In the first quarter of 2020, the Company adopted this standard through the modified retrospective approach, with a cumulative-effect adjustment at the beginning of the fiscal year. As a result of the adoption, the Company has established revised processes and controls to estimate expected losses for trade and other receivables in accordance with the new standard. The Company’s process for estimating losses for trade and other receivables includes an evaluation of both historical collection experience and expectations for current credit risks based on several customer and environmental factors. The adoption of the standard resulted in a transition adjustment to 2020 beginning of the year retained earnings of $ 2.2 million (gross of the deferred tax impact of $ 0.6 million). The transition adjustment relates to incremental trade and notes receivable allowances due to the earlier recognition of expected losses under the new standard of $ 1.9 million and $ 0.3 million, respectively. |
Revenue
Revenue | 6 Months Ended |
Jul. 17, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Revenue | N ote 3 Revenue Disaggregation of Revenue The following table provides information about disaggregated revenue by type of products and customers for each of the Company’s reportable segments: 12 Weeks Ended July 17, 2021 28 Weeks Ended July 17, 2021 (In thousands) Food Distribution Retail Military Total Food Distribution Retail Military Total Type of products: Center store (a) $ 339,057 $ 238,504 $ 205,075 $ 782,636 $ 790,834 $ 527,222 $ 487,137 $ 1,805,193 Fresh (b) 362,922 242,209 129,772 734,903 810,130 525,244 299,464 1,634,838 Non-food (c) 328,361 99,601 92,811 520,773 731,056 227,737 221,868 1,180,661 Fuel — 39,155 — 39,155 — 78,336 — 78,336 Other 26,186 508 2,399 29,093 58,588 882 5,861 65,331 Total $ 1,056,526 $ 619,977 $ 430,057 $ 2,106,560 $ 2,390,608 $ 1,359,421 $ 1,014,330 $ 4,764,359 Type of customers: Individuals $ — $ 619,573 $ — $ 619,573 $ — $ 1,358,866 $ — $ 1,358,866 Manufacturers, brokers and distributors 16,201 — 400,971 417,172 34,413 — 945,355 979,768 Retailers 1,030,446 — 26,687 1,057,133 2,331,406 — 63,114 2,394,520 Other 9,879 404 2,399 12,682 24,789 555 5,861 31,205 Total $ 1,056,526 $ 619,977 $ 430,057 $ 2,106,560 $ 2,390,608 $ 1,359,421 $ 1,014,330 $ 4,764,359 12 Weeks Ended July 11, 2020 28 Weeks Ended July 11, 2020 (In thousands) Food Distribution Retail Military Total Food Distribution Retail Military Total Type of products: Center store (a) $ 359,025 $ 263,677 $ 223,463 $ 846,165 $ 810,347 $ 592,003 $ 563,759 $ 1,966,109 Fresh (b) 382,255 250,127 138,451 770,833 849,918 545,130 334,118 1,729,166 Non-food (c) 331,094 95,451 97,248 523,793 755,406 221,296 263,569 1,240,271 Fuel — 21,640 — 21,640 — 54,640 — 54,640 Other 17,487 362 3,821 21,670 43,686 755 5,930 50,371 Total $ 1,089,861 $ 631,257 $ 462,983 $ 2,184,101 $ 2,459,357 $ 1,413,824 $ 1,167,376 $ 5,040,557 Type of customers: Individuals $ — $ 631,040 $ — $ 631,040 $ — $ 1,413,373 $ — $ 1,413,373 Manufacturers, brokers and distributors 12,654 — 429,257 441,911 51,177 — 1,088,197 1,139,374 Retailers 1,062,021 — 29,905 1,091,926 2,371,443 — 73,249 2,444,692 Other 15,186 217 3,821 19,224 36,737 451 5,930 43,118 Total $ 1,089,861 $ 631,257 $ 462,983 $ 2,184,101 $ 2,459,357 $ 1,413,824 $ 1,167,376 $ 5,040,557 (a) Center store includes dry grocery, frozen and beverages. (b) Fresh includes produce, meat, dairy, deli, bakery, prepared proteins, seafood and floral. (c) Non-food includes general merchandise, health and beauty care, tobacco products and pharmacy. Contract Assets and Liabilities Under its contracts with customers, the Company stands ready to deliver product upon receipt of a purchase order. Accordingly, the Company has no performance obligations under its contracts until its customers submit a purchase order. The Company does not receive pre-payment from its customers or enter into commitments to provide goods or services that have terms greater than one year. As the performance obligation is part of a contract that has an original expected duration of less than one year, the Company has applied the practical expedient under ASC 606 to omit disclosures regarding remaining performance obligations. Revenue recognized from performance obligations related to prior periods (for example, due to changes in estimated rebates and incentives impacting the transaction price) was not material in any period presented. For volume-based arrangements, the Company estimates the amount of the advanced funds earned by the retailers based on the expected volume of purchases by the retailer, and amortizes the advances as a reduction of the transaction price and revenue earned. These advances are not considered contract assets under ASC 606 as they are not generated through the transfer of goods or services to the retailers. These advances are included in Other assets, net within the condensed consolidated balance sheets. When the Company transfers goods or services to a customer, payment is due subject to normal terms and is not conditional on anything other than the passage of time. Typical payment terms range from due upon receipt to 30 days, depending on the customer. At contract inception, the Company expects that the period of time between the transfer of goods to the customer and when the customer pays for those goods will be less than one year, which is consistent with the Company’s standard payment terms. Accordingly, the Company has elected the practical expedient to not adjust for the effects of a significant financing component. As a result, these amounts are recorded as receivables and not contract assets. The Company had no contract assets for any period presented. The Company does not typically incur incremental costs of obtaining a contract that are contingent upon successful contract execution and would therefore be capitalized. Allowance for Doubtful Accounts Changes to the balance of the allowance for doubtful accounts were as follows: Allowance for Doubtful Accounts Current Accounts Long-term (In thousands) and Notes Receivable Notes Receivable Total Balance at January 2, 2021 $ 6,232 $ 371 $ 6,603 Changes in credit loss estimates (1,092 ) 360 (732 ) Write-offs charged against the allowance (499 ) — (499 ) Balance at July 17, 2021 $ 4,641 $ 731 $ 5,372 Allowance for Doubtful Accounts Current Accounts Long-term (In thousands) and Notes Receivable Notes Receivable Total Balance at December 28, 2019 $ 2,739 $ 233 $ 2,972 Impact of adoption of new credit loss standard (ASU 2016-13) 1,911 259 2,170 Provision for expected credit losses 419 — 419 Write-offs charged against the allowance (206 ) (121 ) (327 ) Balance at July 11, 2020 $ 4,863 $ 371 $ 5,234 |
Goodwill and Other Intangible A
Goodwill and Other Intangible Assets | 6 Months Ended |
Jul. 17, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Other Intangible Assets | Note 4 – Goodwill and Other Intangible Assets The Company has three reporting units; however, no goodwill exists within the Retail or Military reporting units. The carrying amount of goodwill recorded within the Food Distribution reporting unit was $181.0 million as of July 17, 2021 and January 2, 2021. The Company has indefinite-lived intangible assets that are not amortized, consisting primarily of indefinite-lived trade names and licenses for the sale of alcoholic beverages. The carrying amount of indefinite-lived intangible assets was $67.6 million as of July 17, 2021 and January 2, 2021. The Company reviews goodwill and other indefinite-lived intangible assets for impairment annually, during the fourth quarter of each year, and more frequently if circumstances indicate impairment is probable. Such circumstances have not arisen in the current fiscal year. Testing goodwill and other indefinite-lived intangible assets for impairment requires management to make significant estimates about the Company’s future performance, cash flows, and other assumptions that can be affected by potential changes in economic, industry or market conditions, business operations, competition, or the Company’s stock price and market capitalization. |
Restructuring and Asset Impairm
Restructuring and Asset Impairment | 6 Months Ended |
Jul. 17, 2021 | |
Restructuring And Related Activities [Abstract] | |
Restructuring and Asset Impairment | Note 5 – Restructuring and Asset Impairment The following table provides the activity of reserves for closed properties for the 28-week period ended July 17, 2021. Included in the liability are lease-related ancillary costs from the date of closure to the end of the remaining lease term, as well as related severance. Reserves for closed properties recorded in the condensed consolidated balance sheets are included in “Other accrued expenses” in Current liabilities and “Other long-term liabilities” in Long-term liabilities based on the timing of when the obligations are expected to be paid. Reserves for severance are recorded in “Accrued payroll and benefits”. Reserves for Closed Properties Lease Ancillary (In thousands) Costs Severance Total Balance at January 2, 2021 $ 3,349 $ 114 $ 3,463 Provision for closing charges 1,410 — 1,410 Provision for severance — 124 124 Changes in estimates (59 ) — (59 ) Accretion expense 54 — 54 Payments (395 ) (238 ) (633 ) Balance at July 17, 2021 $ 4,359 $ — $ 4,359 Restructuring and asset impairment, net in the condensed consolidated statements of earnings consisted of the following: 12 Weeks Ended 28 Weeks Ended July 17, July 11, July 17, July 11, (In thousands) 2021 2020 2021 2020 Asset impairment charges (a) $ 2,820 $ 2,911 $ 3,576 $ 9,643 Provision for closing charges 827 — 1,410 325 (Gain) loss on sales of assets related to closed facilities (b) (326 ) 59 (2,185 ) (31 ) Provision for severance (c) 40 8 124 2,205 Other (income) costs associated with site closures (d) (24 ) 642 310 1,648 Changes in estimates — 55 (59 ) 122 Total $ 3,337 $ 3,675 $ 3,176 $ 13,912 (a) Asset impairment charges in the current year were incurred primarily in the Retail segment and relate to current year store closures and previously closed locations. In the prior year, charges primarily relate to the Food Distribution segment with the exit of the Fresh Cut business and the sale of certain equipment assets of the previously closed Fresh Kitchen facility, which totaled $9.9 million, partially offset by recoveries of $0.3 million related to the re-opening of a previously impaired distribution center. (b) Gains on sales of assets in the current year primarily relate to sales of pharmacy customer lists associated with store closings in the Retail segment. (c) Severance in the prior year was related to the exit of the Fresh Cut business. (d) Other income net activity in the current year primarily relates to Retail store closings and restructuring activities. In the prior year, other costs primarily related to the Fresh Cut business and Retail store closings. Long-lived assets which are not recoverable are measured at fair value on a nonrecurring basis using Level 3 inputs |
Fair Value Measurements
Fair Value Measurements | 6 Months Ended |
Jul. 17, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value Measurements | Note 6 – Fair Value Measurements ASC 820 prioritizes the inputs to valuation techniques used to measure fair value into the following hierarchy: Level 1: Quoted prices (unadjusted) in active markets for identical assets or liabilities. Level 2: Inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 3: Unobservable inputs for the asset or liability, reflecting the reporting entity’s own assumptions about the assumptions that market participants would use in pricing. Financial instruments include cash and cash equivalents, accounts and notes receivable, accounts payable and long-term debt. The carrying amounts of cash and cash equivalents, accounts and notes receivable, and accounts payable approximate fair value because of the short-term maturities of these financial instruments. See Notes 4 and 5 for discussion of the fair value measurements related to long- or indefinite-lived asset impairment charges. At July 17, 2021 and January 2, 2021 the book value and estimated fair value of the Company’s debt instruments, excluding debt financing costs, were as follows: July 17, January 2, (In thousands) 2021 2021 Book value of debt instruments, excluding debt financing costs: Current maturities of long-term debt and finance lease liabilities $ 5,719 $ 5,135 Long-term debt and finance lease liabilities 448,907 485,381 Total book value of debt instruments 454,626 490,516 Fair value of debt instruments, excluding debt financing costs 460,498 497,941 Excess of fair value over book value $ 5,872 $ 7,425 The estimated fair value of debt is based on market quotes for instruments with similar terms and remaining maturities (Level 2 inputs and valuation techniques). |
Commitments and Contingencies
Commitments and Contingencies | 6 Months Ended |
Jul. 17, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | Note 7 – Commitments and Contingencies The Company is engaged from time-to-time in routine legal proceedings incidental to its business. The Company does not believe that these routine legal proceedings, taken as a whole, will have a material impact on its business or financial condition. While the ultimate effect of such actions cannot be predicted with certainty, management believes that their outcome will not result in an adverse effect on the Company’s consolidated financial position, operating results or liquidity. The Company contributes to the Central States Southeast and Southwest Pension Fund (“Central States Plan” or “the Plan”), a multi-employer pension plan, based on obligations arising from certain of its collective bargaining agreements. Based on the most recent information available to the Company, management believes that the present value of actuarial accrued liabilities in the Plan significantly exceeds the value of the assets held in trust to pay benefits. Because SpartanNash is one of a number of employers contributing to the Plan, it is difficult to accurately determine the amount of the underfunding. Management is not aware of any significant change in funding levels since January 2, 2021. Any adjustment for withdrawal liability would be recorded when it is probable that a liability exists and can be reasonably determined. On March 10, 2021, the United States Congress passed the American Rescue Plan Act of 2021 (the “Act”), which provides financial relief to certain failing multiemployer pension plans. In accordance with the interim guidance issued by the Pension Benefit Guaranty Corporation on July 9, 2021, the Act is designed to prevent such plans from becoming insolvent for the next 30 years. The Central States Plan is expected to apply and qualify for relief under the Act. As a result, the legislation and the available relief will alleviate the risk of insolvency of the Plan for the next 30 years, and related potential adverse impacts to the Company. |
Associate Retirement Plans
Associate Retirement Plans | 6 Months Ended |
Jul. 17, 2021 | |
Compensation And Retirement Disclosure [Abstract] | |
Associate Retirement Plans | Note 8 – Associate Retirement Plans During the 12- and 28- week periods ended July 17, 2021, the Company recognized net periodic postretirement benefit costs of $0.1 million and $0.3 million, respectively, related to the SpartanNash Retiree Medical Plan (“Retiree Medical Plan”). During the 12- and 28- week periods ended July 11, 2020, the Company recognized net periodic postretirement benefit costs of $0.1 million and $0.3 million, respectively, related to the Retiree Medical Plan. In the first quarter of the prior year, the Company realized a gain of $1.0 million related to a refund from the annuity provider associated with the final reconciliation of participant data of the terminated SpartanNash Company Pension Plan. Substantially all of these amounts are included in “Other, net” in the condensed consolidated statements of earnings. The Company expects to make total contributions of approximately $0.5 million in 2021 to the Retiree Medical Plan and has made $0.2 million in the year-to-date period. The Company’s retirement programs also include defined contribution plans providing contributory benefits, as well as executive compensation plans for a select group of management personnel and/or highly compensated associates. Multi-Employer Plans In addition to the plans listed above, the Company participates in the Central States Southeast and Southwest Pension Fund, the Michigan Conference of Teamsters and Ohio Conference of Teamsters Health and Welfare plans (collectively referred to as “multi-employer plans”), and other company-sponsored defined contribution plans for most associates covered by collective bargaining agreements. With respect to the Company’s participation in the Central States Plan, expense is recognized as contributions are payable. The Company’s contributions during the 12-week periods ended July 17, 2021 and July 11, 2020 were $3.4 million and $3.5 million, respectively. The Company’s contributions during the 28-week periods ended July 17, 2021 and July 11, 2020 were $8.0 million and $8.1 million, respectively. See Note 7 for further information regarding contingencies related to the Company’s participation in the Central States Plan. |
Income Taxes
Income Taxes | 6 Months Ended |
Jul. 17, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | Note 9 – Income Taxes The effective income tax rate was 25.8% and 6.3% On March 27, 2020, the U.S. government enacted tax legislation to provide economic stimulus and support businesses and individuals during the COVID-19 pandemic, referred to as the CARES Act. In connection with the CARES Act, the Company recorded net discrete income tax benefits of $9.3 million in 2020, of which $5.2 million was recognized in the second quarter, associated with the additional deductibility of certain expenses combined with provisions which enable companies to carry back tax losses to years prior to the enactment of the Tax Cuts and Jobs Act (“Tax Reform”), when the federal statutory income tax rate was 35%. In the first quarter of 2021, the Company received tax refunds totaling $25.7 million related to the amended prior year returns. |
Share-Based Payments
Share-Based Payments | 6 Months Ended |
Jul. 17, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Share-Based Payments | Note 10 – Share-Based Payments Share-Based Employee Awards The Company sponsors shareholder-approved stock incentive plans that provide for the granting of stock options, stock appreciation rights, restricted stock, restricted stock units, stock awards, performance shares, performance share units, dividend equivalent rights, and other stock-based and stock-related awards to directors, officers and other key associates. Share-based compensation expense recognized and included in “Selling, general and administrative expenses” in the condensed consolidated statements of earnings, and related tax impacts were as follows: 12 Weeks Ended 28 Weeks Ended (In thousands) July 17, 2021 July 11, 2020 July 17, 2021 July 11, 2020 Restricted stock expense $ 872 $ 1,904 $ 5,057 $ 4,246 Income tax benefit (223 ) (480 ) (1,230 ) (259 ) Restricted stock expense, net of tax $ 649 $ 1,424 $ 3,827 $ 3,987 The following table summarizes activity in the stock incentive plans for the 28 weeks ended July 17, 2021: Weighted Restricted Average Stock Grant-Date Awards Fair Value Outstanding at January 2, 2021 973,948 $ 17.72 Granted 549,780 18.90 Vested (388,403 ) 19.81 Cancelled/Forfeited (98,441 ) 18.44 Outstanding at July 17, 2021 1,036,884 $ 17.49 As of July 17, 2021, total unrecognized compensation cost related to non-vested restricted stock awards granted under the Company’s stock incentive plans is $9.2 million and is expected to be recognized over a weighted average period of 2.5 years. Stock Warrant On October 7, 2020, in connection with its entry into a commercial agreement with Amazon.com, Inc. (“Amazon”), the Company issued Amazon.com NV Investment Holdings LLC, a subsidiary of Amazon, a warrant to acquire up to an aggregate of 5,437,272 shares of the Company’s common stock (the “Warrant”), subject to certain vesting conditions. Warrant shares equivalent to 2.5% of the Company’s outstanding and issuable shares, or 1,087,455 shares, vested upon the signing of the commercial agreement, and had a grant date fair value of $5.51 per share. Warrant shares equivalent to up to 10.0% of the Company’s outstanding and issuable shares, or 4,349,817 shares, may vest in connection with conditions defined by the terms of the Warrant, as Amazon makes payments to the Company in connection with the commercial supply agreement, in increments of $200 million, and had a grant date fair value of $5.33 per share. Upon vesting, shares may be acquired at an exercise price of $17.7257. The right to purchase shares in connection with the Warrant expires on October 7, 2027. Share-based payment expense recognized as a reduction of “Net sales” in the condensed consolidated statements of earnings, and related tax benefits were as follows: 12 Weeks Ended 28 Weeks Ended (In thousands) July 17, 2021 July 11, 2020 July 17, 2021 July 11, 2020 Warrant expense $ 430 $ — $ 1,075 $ — Income tax benefit (37 ) — (95 ) — Warrant expense, net of tax $ 393 $ — $ 980 $ — The following table summarizes stock warrant activity for the 28 weeks ended July 17, 2021: Warrant Outstanding and nonvested at January 2, 2021 4,349,817 Vested 217,492 Outstanding and nonvested at July 17, 2021 4,132,325 As of July 17, 2021, total unrecognized cost related to non-vested warrant shares was $21.6 million, which may be expensed as vesting conditions are satisfied over the remaining term of the agreement, or 6.2 years. Additionally, 1,304,947 warrant shares are vested and exercisable. As of July 17, 2021, nonvested warrant shares had an intrinsic value of $4.1 million, and vested warrant shares had an intrinsic value of $1.3 million. |
Earnings Per Share
Earnings Per Share | 6 Months Ended |
Jul. 17, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | Note 11 – Earnings Per Share Outstanding nonvested restricted stock awards under the 2015 Stock Incentive Plan contain nonforfeitable rights to dividends or dividend equivalents, which participate in undistributed earnings with common stock. These awards are classified as participating securities and are included in the calculation of basic earnings per share. Awards under the 2020 Stock Incentive Plan do not contain nonforfeitable rights to dividends or dividend equivalents and are therefore not classified as participating securities. There were no stock warrants outstanding during the 12- and 28- week periods ended July 11, 2020. The dilutive impact of both the restricted stock awards and warrants are presented below, as applicable. The following table sets forth the computation of basic and diluted net earnings per share: 12 Weeks Ended 28 Weeks Ended (In thousands, except per share amounts) July 17, 2021 July 11, 2020 July 17, 2021 July 11, 2020 Numerator: Net earnings $ 16,814 $ 28,467 $ 36,330 $ 43,869 Adjustment for earnings attributable to participating securities (305 ) (670 ) (736 ) (1,070 ) Net earnings used in calculating earnings per share $ 16,509 $ 27,797 $ 35,594 $ 42,799 Denominator: Weighted average shares outstanding, including participating securities 35,693 35,706 35,734 35,972 Adjustment for participating securities (648 ) (840 ) (724 ) (877 ) Shares used in calculating basic earnings per share 35,045 34,866 35,010 35,095 Effect of dilutive restricted stock awards 63 1 44 — Effect of dilutive stock warrant 134 — 112 — Shares used in calculating diluted earnings per share 35,242 34,867 35,166 35,095 Basic earnings per share $ 0.47 $ 0.80 $ 1.02 $ 1.22 Diluted earnings per share $ 0.47 $ 0.80 $ 1.01 $ 1.22 |
Supplemental Cash Flow Informat
Supplemental Cash Flow Information | 6 Months Ended |
Jul. 17, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Supplemental Cash Flow Information | Note 12 – Supplemental Cash Flow Information Supplemental cash flow information is as follows: 28 Weeks Ended (In thousands) July 17, 2021 July 11, 2020 Non-cash investing activities: Capital expenditures included in accounts payable $ 1,990 $ 2,072 Operating lease asset additions 348 19,952 Finance lease asset additions 1,721 2,009 Non-cash financing activities: Dividends declared but unpaid 131 31 Recognition of operating lease liabilities 348 19,952 Recognition of finance lease liabilities 1,721 2,009 Other supplemental cash flow information: Cash paid for interest 6,924 10,572 |
Reporting Segment Information
Reporting Segment Information | 6 Months Ended |
Jul. 17, 2021 | |
Segment Reporting [Abstract] | |
Reporting Segment Information | Note 13 – Reporting Segment Information The following tables set forth information about the Company by reporting segment: (In thousands) Food Distribution Retail Military Total 12 Weeks Ended July 17, 2021 Net sales to external customers $ 1,056,526 $ 619,977 $ 430,057 $ 2,106,560 Inter-segment sales 269,627 245 — 269,872 Acquisition and integration — 121 — 121 Restructuring and asset impairment 781 2,556 — 3,337 Depreciation and amortization 7,604 10,685 3,117 21,406 Operating earnings (loss) 16,678 12,711 (3,468 ) 25,921 Capital expenditures 4,437 8,542 4,735 17,714 12 Weeks Ended July 11, 2020 Net sales to external customers $ 1,089,861 $ 631,257 $ 462,983 $ 2,184,101 Inter-segment sales 273,892 — — 273,892 Restructuring and asset impairment 3,462 213 — 3,675 Depreciation and amortization 6,965 10,325 2,807 20,097 Operating earnings (loss) 14,409 24,453 (4,890 ) 33,972 Capital expenditures 4,377 5,596 2,743 12,716 28 Weeks Ended July 17, 2021 Net sales to external customers $ 2,390,608 $ 1,359,421 $ 1,014,330 $ 4,764,359 Inter-segment sales 580,258 418 — 580,676 Acquisition and integration — 180 — 180 Restructuring and asset impairment 763 2,413 — 3,176 Depreciation and amortization 17,394 24,926 7,177 49,497 Operating earnings (loss) 37,824 26,903 (8,611 ) 56,116 Capital expenditures 14,393 17,677 7,768 39,838 28 Weeks Ended July 11, 2020 Net sales to external customers $ 2,459,357 $ 1,413,824 $ 1,167,376 $ 5,040,557 Inter-segment sales 598,020 — — 598,020 Restructuring and asset impairment 12,684 1,228 — 13,912 Depreciation and amortization 17,521 24,081 6,524 48,126 Operating earnings (loss) 25,799 37,098 (6,895 ) 56,002 Capital expenditures 11,396 15,190 4,023 30,609 July 17, January 2, (In thousands) 2021 2021 Total Assets Food Distribution $ 1,096,390 $ 1,112,961 Retail 737,489 763,876 Military 375,268 400,554 Total $ 2,209,147 $ 2,277,391 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies and Basis of Presentation (Policies) | 6 Months Ended |
Jul. 17, 2021 | |
Accounting Policies [Abstract] | |
Adoption of New Accounting Standards and Recently Issued Accounting Standards | In June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2016-13, “Financial Instruments – Credit Losses”. The ASU changed the impairment model for most financial assets and certain other instruments. The standard requires entities to use a forward-looking “expected loss” model that replaces the previous “incurred loss” model, which generally results in earlier recognition of credit losses. In the first quarter of 2020, the Company adopted this standard through the modified retrospective approach, with a cumulative-effect adjustment at the beginning of the fiscal year. As a result of the adoption, the Company has established revised processes and controls to estimate expected losses for trade and other receivables in accordance with the new standard. The Company’s process for estimating losses for trade and other receivables includes an evaluation of both historical collection experience and expectations for current credit risks based on several customer and environmental factors. The adoption of the standard resulted in a transition adjustment to 2020 beginning of the year retained earnings of $ 2.2 million (gross of the deferred tax impact of $ 0.6 million). The transition adjustment relates to incremental trade and notes receivable allowances due to the earlier recognition of expected losses under the new standard of $ 1.9 million and $ 0.3 million, respectively. |
Revenue (Tables)
Revenue (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Revenue From Contract With Customer [Abstract] | |
Summary of Information about Disaggregated Revenue of Reportable Segments | The following table provides information about disaggregated revenue by type of products and customers for each of the Company’s reportable segments: 12 Weeks Ended July 17, 2021 28 Weeks Ended July 17, 2021 (In thousands) Food Distribution Retail Military Total Food Distribution Retail Military Total Type of products: Center store (a) $ 339,057 $ 238,504 $ 205,075 $ 782,636 $ 790,834 $ 527,222 $ 487,137 $ 1,805,193 Fresh (b) 362,922 242,209 129,772 734,903 810,130 525,244 299,464 1,634,838 Non-food (c) 328,361 99,601 92,811 520,773 731,056 227,737 221,868 1,180,661 Fuel — 39,155 — 39,155 — 78,336 — 78,336 Other 26,186 508 2,399 29,093 58,588 882 5,861 65,331 Total $ 1,056,526 $ 619,977 $ 430,057 $ 2,106,560 $ 2,390,608 $ 1,359,421 $ 1,014,330 $ 4,764,359 Type of customers: Individuals $ — $ 619,573 $ — $ 619,573 $ — $ 1,358,866 $ — $ 1,358,866 Manufacturers, brokers and distributors 16,201 — 400,971 417,172 34,413 — 945,355 979,768 Retailers 1,030,446 — 26,687 1,057,133 2,331,406 — 63,114 2,394,520 Other 9,879 404 2,399 12,682 24,789 555 5,861 31,205 Total $ 1,056,526 $ 619,977 $ 430,057 $ 2,106,560 $ 2,390,608 $ 1,359,421 $ 1,014,330 $ 4,764,359 12 Weeks Ended July 11, 2020 28 Weeks Ended July 11, 2020 (In thousands) Food Distribution Retail Military Total Food Distribution Retail Military Total Type of products: Center store (a) $ 359,025 $ 263,677 $ 223,463 $ 846,165 $ 810,347 $ 592,003 $ 563,759 $ 1,966,109 Fresh (b) 382,255 250,127 138,451 770,833 849,918 545,130 334,118 1,729,166 Non-food (c) 331,094 95,451 97,248 523,793 755,406 221,296 263,569 1,240,271 Fuel — 21,640 — 21,640 — 54,640 — 54,640 Other 17,487 362 3,821 21,670 43,686 755 5,930 50,371 Total $ 1,089,861 $ 631,257 $ 462,983 $ 2,184,101 $ 2,459,357 $ 1,413,824 $ 1,167,376 $ 5,040,557 Type of customers: Individuals $ — $ 631,040 $ — $ 631,040 $ — $ 1,413,373 $ — $ 1,413,373 Manufacturers, brokers and distributors 12,654 — 429,257 441,911 51,177 — 1,088,197 1,139,374 Retailers 1,062,021 — 29,905 1,091,926 2,371,443 — 73,249 2,444,692 Other 15,186 217 3,821 19,224 36,737 451 5,930 43,118 Total $ 1,089,861 $ 631,257 $ 462,983 $ 2,184,101 $ 2,459,357 $ 1,413,824 $ 1,167,376 $ 5,040,557 (a) Center store includes dry grocery, frozen and beverages. (b) Fresh includes produce, meat, dairy, deli, bakery, prepared proteins, seafood and floral. (c) Non-food includes general merchandise, health and beauty care, tobacco products and pharmacy. |
Summary of Changes in Allowance for Doubtful Accounts | Allowance for Doubtful Accounts Changes to the balance of the allowance for doubtful accounts were as follows: Allowance for Doubtful Accounts Current Accounts Long-term (In thousands) and Notes Receivable Notes Receivable Total Balance at January 2, 2021 $ 6,232 $ 371 $ 6,603 Changes in credit loss estimates (1,092 ) 360 (732 ) Write-offs charged against the allowance (499 ) — (499 ) Balance at July 17, 2021 $ 4,641 $ 731 $ 5,372 Allowance for Doubtful Accounts Current Accounts Long-term (In thousands) and Notes Receivable Notes Receivable Total Balance at December 28, 2019 $ 2,739 $ 233 $ 2,972 Impact of adoption of new credit loss standard (ASU 2016-13) 1,911 259 2,170 Provision for expected credit losses 419 — 419 Write-offs charged against the allowance (206 ) (121 ) (327 ) Balance at July 11, 2020 $ 4,863 $ 371 $ 5,234 |
Restructuring and Asset Impai_2
Restructuring and Asset Impairment (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Restructuring And Related Activities [Abstract] | |
Schedule of Activity of Reserves for Closed Properties | The following table provides the activity of reserves for closed properties for the 28-week period ended July 17, 2021. Included in the liability are lease-related ancillary costs from the date of closure to the end of the remaining lease term, as well as related severance. Reserves for closed properties recorded in the condensed consolidated balance sheets are included in “Other accrued expenses” in Current liabilities and “Other long-term liabilities” in Long-term liabilities based on the timing of when the obligations are expected to be paid. Reserves for severance are recorded in “Accrued payroll and benefits”. Reserves for Closed Properties Lease Ancillary (In thousands) Costs Severance Total Balance at January 2, 2021 $ 3,349 $ 114 $ 3,463 Provision for closing charges 1,410 — 1,410 Provision for severance — 124 124 Changes in estimates (59 ) — (59 ) Accretion expense 54 — 54 Payments (395 ) (238 ) (633 ) Balance at July 17, 2021 $ 4,359 $ — $ 4,359 |
Schedule of Restructuring and Asset Impairment, Net | Restructuring and asset impairment, net in the condensed consolidated statements of earnings consisted of the following: 12 Weeks Ended 28 Weeks Ended July 17, July 11, July 17, July 11, (In thousands) 2021 2020 2021 2020 Asset impairment charges (a) $ 2,820 $ 2,911 $ 3,576 $ 9,643 Provision for closing charges 827 — 1,410 325 (Gain) loss on sales of assets related to closed facilities (b) (326 ) 59 (2,185 ) (31 ) Provision for severance (c) 40 8 124 2,205 Other (income) costs associated with site closures (d) (24 ) 642 310 1,648 Changes in estimates — 55 (59 ) 122 Total $ 3,337 $ 3,675 $ 3,176 $ 13,912 (a) Asset impairment charges in the current year were incurred primarily in the Retail segment and relate to current year store closures and previously closed locations. In the prior year, charges primarily relate to the Food Distribution segment with the exit of the Fresh Cut business and the sale of certain equipment assets of the previously closed Fresh Kitchen facility, which totaled $9.9 million, partially offset by recoveries of $0.3 million related to the re-opening of a previously impaired distribution center. (b) Gains on sales of assets in the current year primarily relate to sales of pharmacy customer lists associated with store closings in the Retail segment. (c) Severance in the prior year was related to the exit of the Fresh Cut business. (d) Other income net activity in the current year primarily relates to Retail store closings and restructuring activities. In the prior year, other costs primarily related to the Fresh Cut business and Retail store closings. |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of Book Value and Estimated Fair Value of Debt Instruments, Excluding Debt Financing Costs | At July 17, 2021 and January 2, 2021 the book value and estimated fair value of the Company’s debt instruments, excluding debt financing costs, were as follows: July 17, January 2, (In thousands) 2021 2021 Book value of debt instruments, excluding debt financing costs: Current maturities of long-term debt and finance lease liabilities $ 5,719 $ 5,135 Long-term debt and finance lease liabilities 448,907 485,381 Total book value of debt instruments 454,626 490,516 Fair value of debt instruments, excluding debt financing costs 460,498 497,941 Excess of fair value over book value $ 5,872 $ 7,425 |
Share-Based Payments (Tables)
Share-Based Payments (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Summary of Allocation of Stock-Based Compensation Expense in Condensed Consolidated Statements of Operations | Share-based compensation expense recognized and included in “Selling, general and administrative expenses” in the condensed consolidated statements of earnings, and related tax impacts were as follows: 12 Weeks Ended 28 Weeks Ended (In thousands) July 17, 2021 July 11, 2020 July 17, 2021 July 11, 2020 Restricted stock expense $ 872 $ 1,904 $ 5,057 $ 4,246 Income tax benefit (223 ) (480 ) (1,230 ) (259 ) Restricted stock expense, net of tax $ 649 $ 1,424 $ 3,827 $ 3,987 |
Summary of Stock Incentive Plans Activity | The following table summarizes activity in the stock incentive plans for the 28 weeks ended July 17, 2021: Weighted Restricted Average Stock Grant-Date Awards Fair Value Outstanding at January 2, 2021 973,948 $ 17.72 Granted 549,780 18.90 Vested (388,403 ) 19.81 Cancelled/Forfeited (98,441 ) 18.44 Outstanding at July 17, 2021 1,036,884 $ 17.49 |
Summary of Share-based Payment Expense Recognized as a Reduction of Net Sales in Condensed Consolidated Statements of Operations | Share-based payment expense recognized as a reduction of “Net sales” in the condensed consolidated statements of earnings, and related tax benefits were as follows: 12 Weeks Ended 28 Weeks Ended (In thousands) July 17, 2021 July 11, 2020 July 17, 2021 July 11, 2020 Warrant expense $ 430 $ — $ 1,075 $ — Income tax benefit (37 ) — (95 ) — Warrant expense, net of tax $ 393 $ — $ 980 $ — |
Summary of Stock Warrant Activity | The following table summarizes stock warrant activity for the 28 weeks ended July 17, 2021: Warrant Outstanding and nonvested at January 2, 2021 4,349,817 Vested 217,492 Outstanding and nonvested at July 17, 2021 4,132,325 |
Earnings Per Share (Tables)
Earnings Per Share (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Earnings Per Share [Abstract] | |
Schedule of Computation of Basic and Diluted Earnings Per Share | The following table sets forth the computation of basic and diluted net earnings per share: 12 Weeks Ended 28 Weeks Ended (In thousands, except per share amounts) July 17, 2021 July 11, 2020 July 17, 2021 July 11, 2020 Numerator: Net earnings $ 16,814 $ 28,467 $ 36,330 $ 43,869 Adjustment for earnings attributable to participating securities (305 ) (670 ) (736 ) (1,070 ) Net earnings used in calculating earnings per share $ 16,509 $ 27,797 $ 35,594 $ 42,799 Denominator: Weighted average shares outstanding, including participating securities 35,693 35,706 35,734 35,972 Adjustment for participating securities (648 ) (840 ) (724 ) (877 ) Shares used in calculating basic earnings per share 35,045 34,866 35,010 35,095 Effect of dilutive restricted stock awards 63 1 44 — Effect of dilutive stock warrant 134 — 112 — Shares used in calculating diluted earnings per share 35,242 34,867 35,166 35,095 Basic earnings per share $ 0.47 $ 0.80 $ 1.02 $ 1.22 Diluted earnings per share $ 0.47 $ 0.80 $ 1.01 $ 1.22 |
Supplemental Cash Flow Inform_2
Supplemental Cash Flow Information (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Supplemental Cash Flow Elements [Abstract] | |
Schedule of Supplemental Cash Flow Information | Supplemental cash flow information is as follows: 28 Weeks Ended (In thousands) July 17, 2021 July 11, 2020 Non-cash investing activities: Capital expenditures included in accounts payable $ 1,990 $ 2,072 Operating lease asset additions 348 19,952 Finance lease asset additions 1,721 2,009 Non-cash financing activities: Dividends declared but unpaid 131 31 Recognition of operating lease liabilities 348 19,952 Recognition of finance lease liabilities 1,721 2,009 Other supplemental cash flow information: Cash paid for interest 6,924 10,572 |
Reporting Segment Information (
Reporting Segment Information (Tables) | 6 Months Ended |
Jul. 17, 2021 | |
Segment Reporting [Abstract] | |
Schedule of Segment Reporting Information, by Operating Segment | The following tables set forth information about the Company by reporting segment: (In thousands) Food Distribution Retail Military Total 12 Weeks Ended July 17, 2021 Net sales to external customers $ 1,056,526 $ 619,977 $ 430,057 $ 2,106,560 Inter-segment sales 269,627 245 — 269,872 Acquisition and integration — 121 — 121 Restructuring and asset impairment 781 2,556 — 3,337 Depreciation and amortization 7,604 10,685 3,117 21,406 Operating earnings (loss) 16,678 12,711 (3,468 ) 25,921 Capital expenditures 4,437 8,542 4,735 17,714 12 Weeks Ended July 11, 2020 Net sales to external customers $ 1,089,861 $ 631,257 $ 462,983 $ 2,184,101 Inter-segment sales 273,892 — — 273,892 Restructuring and asset impairment 3,462 213 — 3,675 Depreciation and amortization 6,965 10,325 2,807 20,097 Operating earnings (loss) 14,409 24,453 (4,890 ) 33,972 Capital expenditures 4,377 5,596 2,743 12,716 28 Weeks Ended July 17, 2021 Net sales to external customers $ 2,390,608 $ 1,359,421 $ 1,014,330 $ 4,764,359 Inter-segment sales 580,258 418 — 580,676 Acquisition and integration — 180 — 180 Restructuring and asset impairment 763 2,413 — 3,176 Depreciation and amortization 17,394 24,926 7,177 49,497 Operating earnings (loss) 37,824 26,903 (8,611 ) 56,116 Capital expenditures 14,393 17,677 7,768 39,838 28 Weeks Ended July 11, 2020 Net sales to external customers $ 2,459,357 $ 1,413,824 $ 1,167,376 $ 5,040,557 Inter-segment sales 598,020 — — 598,020 Restructuring and asset impairment 12,684 1,228 — 13,912 Depreciation and amortization 17,521 24,081 6,524 48,126 Operating earnings (loss) 25,799 37,098 (6,895 ) 56,002 Capital expenditures 11,396 15,190 4,023 30,609 July 17, January 2, (In thousands) 2021 2021 Total Assets Food Distribution $ 1,096,390 $ 1,112,961 Retail 737,489 763,876 Military 375,268 400,554 Total $ 2,209,147 $ 2,277,391 |
Adoption of New Accounting St_2
Adoption of New Accounting Standards and Recently Issued Accounting Standards - Additional Information (Detail) - USD ($) $ in Thousands | Dec. 29, 2019 | Jul. 17, 2021 | Jan. 02, 2021 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Change in accounting principle, accounting standards update, adoption date | Dec. 29, 2019 | ||
Change in accounting principle, accounting standards update, adopted [true false] | true | ||
Change in accounting principle, accounting standards update, immaterial effect [true false] | false | ||
Accounting Standards Update [Extensible List] | Accounting Standards Update 2016-13 [Member] | ||
Retained earnings | $ 267,481 | $ 245,506 | |
Accounting Standards Update 2016-13 [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Retained earnings | $ 2,200 | ||
Deferred income tax | 600 | ||
Transition adjustment due to adoption of new credit loss standard | 1,900 | ||
Transition adjustment due to adoption of new credit loss standard | $ 300 |
Revenue - Summary of Informatio
Revenue - Summary of Information about Disaggregated Revenue of Reportable Segments (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Disaggregation Of Revenue [Line Items] | ||||
Net sales | $ 2,106,560 | $ 2,184,101 | $ 4,764,359 | $ 5,040,557 |
Center store [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 782,636 | 846,165 | 1,805,193 | 1,966,109 |
Fresh [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 734,903 | 770,833 | 1,634,838 | 1,729,166 |
Non-food [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 520,773 | 523,793 | 1,180,661 | 1,240,271 |
Other Products [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 29,093 | 21,670 | 65,331 | 50,371 |
Fuel [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 39,155 | 21,640 | 78,336 | 54,640 |
Food Distribution [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 1,056,526 | 1,089,861 | 2,390,608 | 2,459,357 |
Food Distribution [Member] | Center store [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 339,057 | 359,025 | 790,834 | 810,347 |
Food Distribution [Member] | Fresh [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 362,922 | 382,255 | 810,130 | 849,918 |
Food Distribution [Member] | Non-food [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 328,361 | 331,094 | 731,056 | 755,406 |
Food Distribution [Member] | Other Products [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 26,186 | 17,487 | 58,588 | 43,686 |
Retail [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 619,977 | 631,257 | 1,359,421 | 1,413,824 |
Retail [Member] | Center store [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 238,504 | 263,677 | 527,222 | 592,003 |
Retail [Member] | Fresh [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 242,209 | 250,127 | 525,244 | 545,130 |
Retail [Member] | Non-food [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 99,601 | 95,451 | 227,737 | 221,296 |
Retail [Member] | Other Products [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 508 | 362 | 882 | 755 |
Retail [Member] | Fuel [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 39,155 | 21,640 | 78,336 | 54,640 |
Military [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 430,057 | 462,983 | 1,014,330 | 1,167,376 |
Military [Member] | Center store [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 205,075 | 223,463 | 487,137 | 563,759 |
Military [Member] | Fresh [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 129,772 | 138,451 | 299,464 | 334,118 |
Military [Member] | Non-food [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 92,811 | 97,248 | 221,868 | 263,569 |
Military [Member] | Other Products [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 2,399 | 3,821 | 5,861 | 5,930 |
Individuals Customer [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 619,573 | 631,040 | 1,358,866 | 1,413,373 |
Individuals Customer [Member] | Retail [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 619,573 | 631,040 | 1,358,866 | 1,413,373 |
Manufacturers, brokers and distributors [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 417,172 | 441,911 | 979,768 | 1,139,374 |
Manufacturers, brokers and distributors [Member] | Food Distribution [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 16,201 | 12,654 | 34,413 | 51,177 |
Manufacturers, brokers and distributors [Member] | Military [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 400,971 | 429,257 | 945,355 | 1,088,197 |
Retailers [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 1,057,133 | 1,091,926 | 2,394,520 | 2,444,692 |
Retailers [Member] | Food Distribution [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 1,030,446 | 1,062,021 | 2,331,406 | 2,371,443 |
Retailers [Member] | Military [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 26,687 | 29,905 | 63,114 | 73,249 |
Other Customers [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 12,682 | 19,224 | 31,205 | 43,118 |
Other Customers [Member] | Food Distribution [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 9,879 | 15,186 | 24,789 | 36,737 |
Other Customers [Member] | Retail [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | 404 | 217 | 555 | 451 |
Other Customers [Member] | Military [Member] | ||||
Disaggregation Of Revenue [Line Items] | ||||
Net sales | $ 2,399 | $ 3,821 | $ 5,861 | $ 5,930 |
Revenue - Additional Informatio
Revenue - Additional Information (Detail) | 6 Months Ended |
Jul. 17, 2021USD ($) | |
Disaggregation Of Revenue [Line Items] | |
Revenue recognition performance obligation | $ 0 |
Revenue, remaining performance obligation, optional exemption, performance obligation | true |
Revenue recognition contract terms | 30 days |
Contract assets | $ 0 |
Maximum [Member] | |
Disaggregation Of Revenue [Line Items] | |
Revenue recognition contract terms | 1 year |
Revenue - Summary of Changes in
Revenue - Summary of Changes in Allowance for Doubtful Accounts (Detail) - USD ($) $ in Thousands | Dec. 29, 2019 | Jul. 17, 2021 | Jul. 11, 2020 |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Beginning balance | $ 2,972 | $ 6,603 | $ 2,972 |
Changes in provision for expected credit losses estimates | (732) | 419 | |
Write-offs charged against the allowance | (499) | (327) | |
Ending balance | 5,372 | 5,234 | |
ASU 2016-13 [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Impact of adoption of new credit loss standard (ASU 2016-13) | 1,900 | ||
Impact of adoption of new credit loss standard (ASU 2016-13) | 300 | ||
Impact of adoption of new credit loss standard (ASU 2016-13) | 2,170 | ||
Current Accounts and Notes Receivable [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Beginning balance | 2,739 | 6,232 | 2,739 |
Changes in provision for expected credit losses estimates | (1,092) | 419 | |
Write-offs charged against the allowance | (499) | (206) | |
Ending balance | 4,641 | 4,863 | |
Current Accounts and Notes Receivable [Member] | ASU 2016-13 [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Impact of adoption of new credit loss standard (ASU 2016-13) | 1,911 | ||
Long Term Notes Receivable [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Balance at January 2, 2021 | $ 233 | 371 | 233 |
Changes in provision for expected credit losses estimates | 360 | ||
Write-offs charged against the allowance | (121) | ||
Balance at July 17, 2021 | $ 731 | 371 | |
Long Term Notes Receivable [Member] | ASU 2016-13 [Member] | |||
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |||
Impact of adoption of new credit loss standard (ASU 2016-13) | $ 259 |
Goodwill and Other Intangible_2
Goodwill and Other Intangible Assets - Additional Information (Detail) | 6 Months Ended | |
Jul. 17, 2021USD ($)Segment | Jan. 02, 2021USD ($) | |
Goodwill [Line Items] | ||
Number of reporting units | Segment | 3 | |
Goodwill | $ 181,035,000 | $ 181,035,000 |
Indefinite-lived intangible assets | 67,600,000 | 67,600,000 |
Retail [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 0 | |
Military [Member] | ||
Goodwill [Line Items] | ||
Goodwill | 0 | |
Food Distribution [Member] | ||
Goodwill [Line Items] | ||
Goodwill | $ 181,000,000 | $ 181,000,000 |
Restructuring and Asset Impai_3
Restructuring and Asset Impairment - Schedule of Activity of Reserves for Closed Properties (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Restructuring Cost And Reserve [Line Items] | ||||
Beginning balance | $ 3,463 | |||
Provision for severance | $ 40 | $ 8 | 124 | $ 2,205 |
Changes in estimates | (59) | |||
Accretion expense | 54 | |||
Payments | (633) | |||
Ending balance | 4,359 | 4,359 | ||
Business Restructuring Reserves [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Provision for closing charges | 1,410 | |||
Lease and Ancillary Costs [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Beginning balance | 3,349 | |||
Changes in estimates | (59) | |||
Accretion expense | 54 | |||
Payments | (395) | |||
Ending balance | 4,359 | 4,359 | ||
Lease and Ancillary Costs [Member] | Business Restructuring Reserves [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Provision for closing charges | $ 827 | 1,410 | $ 325 | |
Severance [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Beginning balance | 114 | |||
Provision for severance | 124 | |||
Payments | $ (238) |
Restructuring and Asset Impai_4
Restructuring and Asset Impairment - Schedule of Restructuring and Asset Impairment, Net (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Restructuring Cost And Reserve [Line Items] | ||||
Asset impairment charges | $ 2,820 | $ 2,911 | $ 3,576 | $ 9,643 |
(Gain) loss on sales of assets related to closed facilities | (262) | 3,368 | ||
Provision for severance | 40 | 8 | 124 | 2,205 |
Other (income) costs associated with site closures | (24) | 642 | 310 | 1,648 |
Changes in estimates | 55 | (59) | 122 | |
Restructuring and asset impairment | 3,337 | 3,675 | 3,176 | 13,912 |
Business Restructuring Reserves [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Provision for closing charges | 1,410 | |||
Business Restructuring Reserves [Member] | Lease and Ancillary Costs [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
Provision for closing charges | 827 | 1,410 | 325 | |
Facility Closing [Member] | ||||
Restructuring Cost And Reserve [Line Items] | ||||
(Gain) loss on sales of assets related to closed facilities | $ (326) | $ 59 | $ (2,185) | $ (31) |
Restructuring and Asset Impai_5
Restructuring and Asset Impairment - Schedule of Restructuring Activity and Asset Impairment (Parenthetical) (Detail) $ in Millions | 6 Months Ended |
Jul. 17, 2021USD ($) | |
Food Distribution Segment [Member] | |
Restructuring Cost And Reserve [Line Items] | |
Impairments partially offset by recoveries | $ 0.3 |
Fresh Cut Business and Fresh Kitchen [Member] | |
Restructuring Cost And Reserve [Line Items] | |
Business exit costs | $ 9.9 |
Restructuring and Asset Impai_6
Restructuring and Asset Impairment - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 4 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Apr. 24, 2021 | Jul. 17, 2021 | Jul. 11, 2020 | |
Restructuring Cost And Reserve [Line Items] | |||||
Impairment charges | $ 2,820 | $ 2,911 | $ 3,576 | $ 9,643 | |
The Fresh Kitchen Facility [Member] | |||||
Restructuring Cost And Reserve [Line Items] | |||||
Proceeds from sale of assets held for sale | $ 20,500 | ||||
Fair Value Measurements Nonrecurring [Member] | Significant unobservable inputs (Level 3) [Member] | |||||
Restructuring Cost And Reserve [Line Items] | |||||
Long-lived assets | 22,500 | 32,700 | 22,500 | 32,700 | |
Long-lived assets measured fair value on nonrecurring basis | $ 18,900 | $ 22,800 | 18,900 | 22,800 | |
Impairment charges | $ 3,600 | $ 9,900 |
Fair Value Measurements - Sched
Fair Value Measurements - Schedule of Book Value and Estimated Fair Value of Debt Instruments, Excluding Debt Financing Costs (Detail) - USD ($) $ in Thousands | Jul. 17, 2021 | Jan. 02, 2021 |
Book value of debt instruments, excluding debt financing costs: | ||
Current maturities of long-term debt and finance lease liabilities | $ 5,719 | $ 5,135 |
Long-term debt and finance lease liabilities | 448,907 | 485,381 |
Total book value of debt instruments | 454,626 | 490,516 |
Fair value of debt instruments, excluding debt financing costs | 460,498 | 497,941 |
Excess of fair value over book value | $ 5,872 | $ 7,425 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) - Employer | Jul. 09, 2021 | Jul. 17, 2021 |
Commitments And Contingencies Disclosure [Abstract] | ||
Number of employers contributing to plan | 1 | |
Multiemployer plan number of years relief from risk of insolvency | 30 years |
Associate Retirement Plans - Ad
Associate Retirement Plans - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Apr. 18, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Defined Benefit Plan Disclosure [Line Items] | |||||
Pension contributions during last plan year | $ 3.4 | $ 3.5 | $ 8 | $ 8.1 | |
Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Net periodic benefit (income) expense | $ 1 | ||||
Retiree Medical Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Expected Company contribution for remainder of fiscal year | 0.5 | 0.5 | |||
Standard pension funding carryover | 0.2 | ||||
SpartanNash Retiree Medical Plan Plan [Member] | Pension Plan [Member] | |||||
Defined Benefit Plan Disclosure [Line Items] | |||||
Net periodic benefit (income) expense | $ 0.1 | $ 0.1 | $ 0.3 | $ 0.3 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) $ in Millions | 3 Months Ended | 4 Months Ended | 6 Months Ended | 12 Months Ended | |||
Jul. 17, 2021 | Jul. 11, 2020 | Apr. 24, 2021 | Jul. 17, 2021 | Jul. 11, 2020 | Jan. 02, 2021 | Dec. 30, 2017 | |
Income Tax Disclosure [Abstract] | |||||||
Effective income tax rate | 25.80% | 6.30% | 25.10% | 4.30% | |||
Net discrete income tax benefits of CARES Act | $ 5.2 | $ 9.3 | |||||
Federal statutory income tax rate | 35.00% | ||||||
Proceeds from income tax refunds related to amended prior year returns | $ 25.7 |
Share-Based Payments - Summary
Share-Based Payments - Summary of Allocation of Stock-Based Compensation Expense in Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Employee Service Share Based Compensation Aggregate Disclosures [Abstract] | ||||
Restricted stock expense | $ 872 | $ 1,904 | $ 5,057 | $ 4,246 |
Income tax benefit | (223) | (480) | (1,230) | (259) |
Restricted stock expense, net of tax | $ 649 | $ 1,424 | $ 3,827 | $ 3,987 |
Share-Based Payments - Summar_2
Share-Based Payments - Summary of Stock Incentive Plans Activity (Detail) - Restricted Stock Awards [Member] | 6 Months Ended |
Jul. 17, 2021$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |
Restricted Stock Awards, Outstanding, Beginning balance | shares | 973,948 |
Restricted Stock Awards, Granted | shares | 549,780 |
Restricted Stock Awards, Vested | shares | (388,403) |
Restricted Stock Awards, Cancelled/Forfeited | shares | (98,441) |
Restricted Stock Awards, Outstanding, Ending balance | shares | 1,036,884 |
Weighted Average Grant-Date Fair Value, Beginning balance | $ / shares | $ 17.72 |
Weighted Average Grant-Date Fair Value, Granted | $ / shares | 18.90 |
Weighted Average Grant-Date Fair Value, Vested | $ / shares | 19.81 |
Weighted Average Grant-Date Fair Value, Cancelled/Forfeited | $ / shares | 18.44 |
Weighted Average Grant-Date Fair Value, Ending balance | $ / shares | $ 17.49 |
Share-Based Payments - Addition
Share-Based Payments - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Millions | Oct. 07, 2020 | Jul. 17, 2021 | Jan. 02, 2021 | Jul. 11, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Stock warrant, outstanding and nonvested | 4,132,325 | 4,349,817 | 0 | |
Unrecognized cost related to non-vested warrant shares | $ 21.6 | |||
Non-vested warrant shares expensed as vesting conditions are satisfied over the remaining term | 6 years 2 months 12 days | |||
Warrant shares, vested and exercisable | 1,304,947 | |||
Non-vested warrant shares, intrinsic value | $ 4.1 | |||
Vested warrant shares, intrinsic value | 1.3 | |||
NV Investment Holdings [Member] | Commercial Agreement [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Warrant to acquire number of securities, common stock shares | 5,437,272 | |||
Exercise price | $ 17.7257 | |||
Warrant commercial supply agreement | $ 200 | |||
Right to purchase warrant, expiration date | Oct. 7, 2027 | |||
NV Investment Holdings [Member] | Commercial Agreement [Member] | Warrants One [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of warrant, outstanding and issuable shares | 2.50% | |||
Warrant to purchase number of securities, common stock shares vested | 1,087,455 | |||
Warrant grant date fair value per share | $ 5.51 | |||
NV Investment Holdings [Member] | Commercial Agreement [Member] | Warrants Two [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Percentage of warrant, outstanding and issuable shares | 10.00% | |||
Warrant grant date fair value per share | $ 5.33 | |||
Stock warrant, outstanding and nonvested | 4,349,817 | |||
Restricted Stock Awards [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | ||||
Unrecognized compensation cost | $ 9.2 | |||
Unrecognized compensation cost, weighted average period of recognition | 2 years 6 months |
Share-Based Payments - Summar_3
Share-Based Payments - Summary of Share-based Payment Expense Recognized as a Reduction of Net Sales in Condensed Consolidated Statements of Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended |
Jul. 17, 2021 | Jul. 17, 2021 | |
Employee Service Share Based Compensation Aggregate Disclosures [Abstract] | ||
Warrant expense | $ 430 | $ 1,075 |
Income tax benefit | (37) | (95) |
Warrant expense, net of tax | $ 393 | $ 980 |
Share-Based Payments - Summar_4
Share-Based Payments - Summary of Stock Warrant Activity (Detail) | 6 Months Ended |
Jul. 17, 2021shares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Stock warrant, outstanding and nonvested | 4,349,817 |
Vested | 217,492 |
Stock warrant, outstanding and nonvested | 4,132,325 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | Jul. 17, 2021 | Jan. 02, 2021 | Jul. 11, 2020 |
Earnings Per Share [Abstract] | |||
Stock warrant, outstanding and nonvested | 4,132,325 | 4,349,817 | 0 |
Earnings Per Share - Schedule o
Earnings Per Share - Schedule of Computation of Basic and Diluted Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 4 Months Ended | 6 Months Ended | |||
Jul. 17, 2021 | Jul. 11, 2020 | Apr. 24, 2021 | Apr. 18, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | |
Numerator: | ||||||
Net earnings | $ 16,814 | $ 28,467 | $ 19,516 | $ 15,402 | $ 36,330 | $ 43,869 |
Adjustment for earnings attributable to participating securities | (305) | (670) | (736) | (1,070) | ||
Net earnings used in calculating earnings per share | $ 16,509 | $ 27,797 | $ 35,594 | $ 42,799 | ||
Denominator: | ||||||
Weighted average shares outstanding, including participating securities | 35,693 | 35,706 | 35,734 | 35,972 | ||
Adjustment for participating securities | (648) | (840) | (724) | (877) | ||
Shares used in calculating basic earnings per share | 35,045 | 34,866 | 35,010 | 35,095 | ||
Shares used in calculating diluted earnings per share | 35,242 | 34,867 | 35,166 | 35,095 | ||
Basic net earnings per share: | $ 0.47 | $ 0.80 | $ 1.02 | $ 1.22 | ||
Diluted net earnings per share: | $ 0.47 | $ 0.80 | $ 1.01 | $ 1.22 | ||
Stock Warrant [Member] | ||||||
Denominator: | ||||||
Effect of dilutive restricted stock awards | 134 | 112 | ||||
Restricted Stock Awards [Member] | ||||||
Denominator: | ||||||
Effect of dilutive restricted stock awards | 63 | 1 | 44 |
Supplemental Cash Flow Inform_3
Supplemental Cash Flow Information - Schedule of Supplemental Cash Flow Information (Detail) - USD ($) $ in Thousands | 6 Months Ended | |
Jul. 17, 2021 | Jul. 11, 2020 | |
Non-cash investing activities: | ||
Capital expenditures included in accounts payable | $ 1,990 | $ 2,072 |
Operating lease asset additions | 348 | 19,952 |
Finance lease asset additions | 1,721 | 2,009 |
Non-cash financing activities: | ||
Dividends declared but unpaid | 131 | 31 |
Recognition of operating lease liabilities | 348 | 19,952 |
Recognition of finance lease liabilities | 1,721 | 2,009 |
Other supplemental cash flow information: | ||
Cash paid for interest | $ 6,924 | $ 10,572 |
Reporting Segment Information -
Reporting Segment Information - Schedule of Segment Reporting Information, by Operating Segment (Detail) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jul. 17, 2021 | Jul. 11, 2020 | Jul. 17, 2021 | Jul. 11, 2020 | Jan. 02, 2021 | |
Segment Reporting Information [Line Items] | |||||
Net sales | $ 2,106,560 | $ 2,184,101 | $ 4,764,359 | $ 5,040,557 | |
Acquisition and integration | 121 | 180 | |||
Restructuring and asset impairment, net | 3,337 | 3,675 | 3,176 | 13,912 | |
Depreciation and amortization | 21,406 | 20,097 | 49,497 | 48,126 | |
Operating earnings (loss) | 25,921 | 33,972 | 56,116 | 56,002 | |
Capital expenditures | 17,714 | 12,716 | 39,838 | 30,609 | |
Total Assets | 2,209,147 | 2,209,147 | $ 2,277,391 | ||
Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 2,106,560 | 2,184,101 | 4,764,359 | 5,040,557 | |
Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 269,872 | 273,892 | 580,676 | 598,020 | |
Food Distribution [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 1,056,526 | 1,089,861 | 2,390,608 | 2,459,357 | |
Restructuring and asset impairment, net | 781 | 3,462 | 763 | 12,684 | |
Depreciation and amortization | 7,604 | 6,965 | 17,394 | 17,521 | |
Operating earnings (loss) | 16,678 | 14,409 | 37,824 | 25,799 | |
Capital expenditures | 4,437 | 4,377 | 14,393 | 11,396 | |
Total Assets | 1,096,390 | 1,096,390 | 1,112,961 | ||
Food Distribution [Member] | Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 1,056,526 | 1,089,861 | 2,390,608 | 2,459,357 | |
Food Distribution [Member] | Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 269,627 | 273,892 | 580,258 | 598,020 | |
Retail [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 619,977 | 631,257 | 1,359,421 | 1,413,824 | |
Acquisition and integration | 121 | 180 | |||
Restructuring and asset impairment, net | 2,556 | 213 | 2,413 | 1,228 | |
Depreciation and amortization | 10,685 | 10,325 | 24,926 | 24,081 | |
Operating earnings (loss) | 12,711 | 24,453 | 26,903 | 37,098 | |
Capital expenditures | 8,542 | 5,596 | 17,677 | 15,190 | |
Total Assets | 737,489 | 737,489 | 763,876 | ||
Retail [Member] | Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 619,977 | 631,257 | 1,359,421 | 1,413,824 | |
Retail [Member] | Intersegment Eliminations [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 245 | 418 | |||
Military [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | 430,057 | 462,983 | 1,014,330 | 1,167,376 | |
Depreciation and amortization | 3,117 | 2,807 | 7,177 | 6,524 | |
Operating earnings (loss) | (3,468) | (4,890) | (8,611) | (6,895) | |
Capital expenditures | 4,735 | 2,743 | 7,768 | 4,023 | |
Total Assets | 375,268 | 375,268 | $ 400,554 | ||
Military [Member] | Operating Segments [Member] | |||||
Segment Reporting Information [Line Items] | |||||
Net sales | $ 430,057 | $ 462,983 | $ 1,014,330 | $ 1,167,376 |