SPTN - Earnings call 3 2023 | SpartanNash Company

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Welcome to the SpartanNash Third Quarter 2023 Earnings Conference Call. [Operator Instructions] I would now like to turn the call over to Kayleigh Campbell, Head of Investor Relations. Please go ahead.

Kayleigh Campbell

Good morning, and welcome to the SpartanNash Company Third Quarter 2023 Earnings Conference Call.

On the call today from the company are President and Chief Executive Officer, Tony Sarsam; and Executive Vice President and Chief Financial Officer, Jason Monaco.By now, everyone should have access to the earnings release, which was issued this morning at approximately 7:00 a.m. Time. Eastern

those and of presentation, as at website.Before please call being copy company's as www.spartannash.com/investors. we earnings be is earnings will supplemental visit recorded, begin, the the include a differ could are the well in like certain subject expressed release the would will risks This available company For remind materially cause forward-looking of and that you number on to that replay actual to to results statements. company's a SpartanNash's from discussion uncertainties statements. forward-looking today's a website These the statements

current pleasure to financial turn the certain of on of my non-GAAP underlying now The the to the and most of growth non-GAAP that If well cause results actual included reconciliation Tony. from found full SpartanNash's measures, on forward-looking as remember to filings, statements. call the provide to financial earnings the to measures. these useful can reflect www.spartannash.com/investors.And as or revise most statements.Please to made GAAP is company's this these factors a recent it number be measures over which a SEC today also morning, a obligation you update could measures trends will The the company expectations believes comparable the has will see forward-looking it and business you SpartanNash's materially company's to that release at only, forward-looking earnings investors with release statements refer make references will in from of differ these all company website SpartanNash discussion no undertakes our perspective

Tony Sarsam

off, we To to everyone. be last here. I out that month. highlights report most recent good Glad Thank some published you, kick and our morning, from want Kayle, ESG call to us

our whopping mileage am by XXXX, that We share making fleet are our XX% goal. of XXXX we happy XX%, of to and directors today. the the food DC lighting, LED new refreshment, From retail to demonstrated commitment X journey addition ozone-depleting We director ongoing exemplified diverted in I past X August. million our landfills.On and all pounds early strides X by of governance converted reduced by in XXXX stores We still in decreased XX%. you XX% more a to side, our sustainability DCs are Board than we exceeding to with from we and this emissions new

record, I'm lost focus been company, As people-first incredibly has Since team's of safety. XXXX, an a improved the including on safety one accomplishments XX% of a decrease continued our biggest in incidents. proud time

past year, the master our our have Over our action subcommittees and into XXXX embedded plan. ESG ESG goals strategically Committee

our to committed available XXXX of We is serving privilege that to the the of U.S. We and the on encourage the serve. read creating are we improve which communities all associates solutions stakeholders website.We report, ESC company lives the the military. had

Wholesale our positive $X.X sales to this the as Similar continued decrease United States and Day for in wholesaler, ago. results. As came turning net a have the honor served segment we This from weekend, consolidated QX of to taste women bring our at of a well around of America.Now quarter, sales military in we those we observed grocery the Consolidated experience a world. decrease company. as impact, the home the of billion, last families men, the X.X% on to Veterans in a business. year trends Amazon of our U.S. who to we Outside sales

quarter. basis the to they continue Amazon EBITDA prior points to X%, work changes increased their Adjusted in through year with We grocery manage XX closely as format. improving compared

held strong. brands challenging line in national an volumes our from OwnBrands benefits initiatives. transformational attributable environment bottom is environment amid portfolio solid the where Our performance Even a declined, to our

made products Our all of retail since levels year. to we helping stretch customers transformation and further have our last across refreshed and strides new help shoppers, are our dollars.Speaking OwnBrands solutions huge income their launching consumers merchandising

relentless have inflation. combating food food on a been company, As solutions we

For markets and commodity rising to more category leveraged year, our address planning enhanced data costs. a has than benchmarks other from industrial input

Our methodical helped provide capture us share our to cost and management wholesale retail shoppers. additive customers and has value

serve our We easier This recently our scale next with offer. in to lead launching analytics; our continue capabilities stores; find an using are to plan the based warehouses phase assortment areas: business.Turning retail and our with creating transformation are stores our customers shopping and three, actions vendors collaborating of a All of program advanced experience. we remodeled to to in for is our reducing stores. program potential simplifying compelling on their OwnBrands; customer-led solutions.We now to the our following power upmarket the planogram. significant also to to appreciate help the five, shoppers; showcasing process of these in-stocks one, within independent unlocked who and to our There is them better and navigate grow four, drive the learnings, us to overall in merchandising improving two, creative cost through accelerating the

offerings. We our are of growing at of the stores double rate retail portfolio to the innovative due these rest

XXXX or base on We through renovate in during from are continue our the reinvest to planned XX% period target to refresh XXXX. the stores of and

retail find to continues solutions. Our team

enables are significantly our experience. customer optimizing implementing associates to we by administrative better while a program The For provide reducing cash and deposit shopper service example, our program hours. store currently automation

strength the our SpartanNash. to seen we're our is be have former are attracting company.Now signature to customer-focused, They customers. and executing boomeranging on recipe, back momentum innovative most are food even solutions Our that winning we

to They made years. welcoming as as Our they of back strategic We on testament next progress long-term are true a This past the partner we see phase the a eagerly us them have Family. over into focus X is their growth.

benefits an team network, merchandising associates provides We helping winning our who wholesale and business on chain service our customers take the reliable focused to to customers these transformation optimized next level. are the are our with our of through their grocery aligned our possible supply of because made customers

due long This and to we stabilized. our recipe. labor seeing our winning Since last is are of the flow In our November, wholesale market growing forward addition, rate services we winning and to we are applicant work. and turnover businesses recognizing more look We reduced together.Overall, our job customers. by and differentiated are training new and I execution nearly associates them XX%, with right on we the a for for to mature investments, their do training development love hiring them onboarding great focused the hard term. retaining people,

Circle to all theme a was Information. those retail the we program. impact quarter, ingredients life.This associates I'm thank and that Congrats our Summit, Our do for better of Leadership of seeing inspiring Excellence honored Annual you the throughout leadership our Flying supply past recently messaging our hosted team our frontline chain all deliver winners, you throughout for our through to already company. the

has team cross-functional embraced Our fully work.

we financials. you to We our again information.I our our we focused things are pursuit to about will in are share are aligned, now food CFO, associates are turn flying solutions. more and relentless who over Thank Jason Monaco, details our of providing to

Jason Monaco

past today's some everyone quarter of Thanks, welcome highlight results. call. us this key the to want detailed on from successes before our joining Tony, jumping into to I and

last million to than more increased X% million EBITDA adjusted our $XX.X from $XX.X year. First,

the returned remains us and And earnings Our $X.X of sales to Net reported segments of giving our profit industry inorganic of both from repurchases to quarterly by XX.X% third and operating were nearly $XX.X organic through decreased support $XXX year. liquidity flow million unfavorably earnings both cash increased the shareholders headwinds. million last to quarter long-term year's prior and in activities million strategic cash third the we've or compared with Year-to-date, Consistent strong, share X.X% impacted our net dividends.Now to to volume results. compared almost million billion generated for to net to XXXX's compared million quarter. plans, flexibility turning $XXX $XX to quarter million QX $X.XX and including was million pressures, investments. $XX $XX Gross for third our quarter. in

On I'll points eased momentarily.LIFO lower basis gross sequential quarter as year in While dollar was decreased additional a profit compared to relatively variances XX $X the the by XX.XX% sales. discuss the million points we've basis, expense to rate as XX was the rate net driven prior volumes both flat, inflation basis unit or segments. segment expected. of decline grew

from As a basis prior percentage year of points sales, the quarter. XX our reported expenses operating improved

a gain Net in higher quarter. rate the Amazon million included quarter. due the expense During and previously in prior for transformation decrease previously the from the our realized due were These year changes supply plan.Now integration to was increase to expenses lower prior to third year severance $XXX,XXX helped related costs to Other incentive realignment.Interest $X.X X.X% the chain primarily to acquisition quarter, to $X.X headwinds. industry-wide to to sales within turning decreased quarter to demand efficiencies The the to terminated increased in reductions partially an segments. announced by our $X.X an expense decrease quarter year primarily to billion organizational prior million to the postretirement The the due compared $XX compared compensation and charges compared million environment. was income Wholesale also offset related offset business.

increased million chain prior benefits in year $X Retail was the third year. million the of third Moving benefits to due price quarter to segment's of were merchandising the XXXX. quarterly came $XX.X in the realized quarter the quarter, $XX.X expenses, $XXX transformation at million the Despite and Sales Wholesale Wholesale bottom bottom for $XX compared of operating inflation-related to million operating the compared period.Now turning cycling which million million quarter over adjusted compensation. leverage incentive EBITDA $XXX compared last transformation supply line same line, to segment's $XX the to of in earnings period to include our reported during in the our segment. from prior gains year the better million lower

X.X%. store comparable Our sales grew

Continued reductions quarter, months. consumers adversely impacted in approximately past same-store in the X to offered geography by a sales in our that last retail benefits trend accelerated has this X% EBT

new dollars.Retail products further to from $XX This operating As and and The $XX.X to offset in earnings all income was million prior our reported consumers increase expense. work, health million was reduced and levels by pharmacy million adjusted increased balance EBITDA $X.X in ongoing innovation to of were margins. the due year decrease of their are compared OwnBrands to helping benefits XXXX's refreshed million quarter.Moving compensation our a million increase $X.X across quarter. success Tony our the $X.X sheet. mentioned, pressure third incentive marketing Retail industry-wide volume lower in stretch partially

leverage to XX million. $XX sequentially cash of basis compared the net points by flow year. ratio second at this adjusted quarter improved to nearly to EBITDA Year-to-date, of X.Xx long-term strong Our debt remained

we period, to equal $XX paid more same $X.XXX dividends, than the per cash Over have share. common in million

plan. full midpoint sales same the to which adjusted $XX $XXX our conditions total the nearly year to $X.XX to on of trends we of year the have million. full We year-to-date.As the million quarter, our we $X.XX a huge per affirming range approximately have share, for which billion. We the top to the we billion we and authorizations. repurchase and also shares of We $XX.X mentioned, are made observing. strides updated and And million returned net we bought the ongoing adjusted our strategic third share our expect XXXX, earnings between rate back $XXX elevated interest of EBITDA, release guidance remaining XXX,XXX for updated $XX will the has narrowed million shareholders environment.Since In be our end $X.XX in end company now the market of be on EPS as range our on $X.XX guidance current our lowered to based we million, reflects total, while

highly a business sustainable of have profitable growth. with scalable We model trajectory a

winning Tony. initiatives to benefits back from like shareholders.And call Our continue to I'd enhance recipe for turn value and our to now our the transformational the over

Tony Sarsam

initiatives. and talented been you, To on of have culture, strategic comment, echo developing made a Jason's huge a recruiting Jason. Since we our XXXX, plan on executing and leaders, transformational last team we key long-term a plan. progress implementing long-term building Thank have First People

be the plan share, for operator is shareholder ingredients see results we to margin for well opportunities opportunities.It's strategic better related the we front our incorporates open a grow helping opportunities call express it want lines delivering initiatives are the your creation questions. execution transformational the drive continue value.With dynamic on facing pursue from further like to life. my We a are how the to foundation and actively team, to many has plan, of through our ahead energized holiday long-term ensure our season about created With to to improved us, we the secret our with the a environment climb, against to the mountain substantial and who up over to serving gratitude I'd value no of of Instead headwinds. turn entire this expansion maximize industry them back are long-term seeing ample positioned strong that, to I

Operator

comes [Operator Instructions] Andrew question of from And our King. CL first Wolf

Andrew Paul Wolf

Just a questions. of had couple

is adjusted if how the and think is on volume What business, we sense First you Amazon market of share. it's market? the take versus out how trending you're your your trending

Jason Monaco

Andrew, Jason. Thanks question. this is for the

strip driver Wholesale. you from in growth solid we've Amazon for have the of and a would standpoint, the we share net the And out business If seen Amazon revenue negative the business, market business. our in growth is profile growth. primary seen Overall, retail

Andrew Paul Wolf

division Is same-store number Is your a average, on range. similar customers? follow-up. a is obviously, that that that I'm from retail produced. But average, seeing to seeing you're your as similar what related sure from you're of the on wholesale there's the Kind what to sales

Jason Monaco

Yes.

stores. similar a profiles pharmacy independent own and between it's excluding our different retail our customers the So has impact which profile mix obviously of business, our

Andrew Paul Wolf

don't you on your it. little topical. maybe I could outlook, not really something of think as that's just if Okay. guidance dive And sort into Got a much more as just a question.

could deflation a we and think little impact and you that look inflation term? X on as and/or segments Just kind longer how deflation of out your

Tony Sarsam

Yes.

is So Tony. this

it month, was kind So down months. bit seen, the little all than down as of is previous we've more coming each in the particularly food a inflation as it's

expect trend out trend steady But continue. levels a to -- sort we're and going that the down to inflation ball back of say, have not food see coming we're We We're right breaking actually normal crystal deflation. to we now. for pretty of

Andrew Paul Wolf

this Do the games. the Or a already you've is sort you Did quarter? just holding of of think impact sort sort of swings moved And in follow-up. big out? it beyond that cycled

Jason Monaco

that versus this we're last lapped -- we heaviest benefits the past last of year part definitely, Yes, of year moving million year, $X Andrew, versus last those gains about year. from as the the X%, benefit the about whole digits, low on we're Inflation think that single in fade Wholesale we seeing and finished in of segment expected. it quarter our around kind

Operator

from comes Rob Jefferies. from Our next question Dickerson

Robert Dickerson

I or you've increased wanted kind some just the expectation ask historically, the of some to about vendor side. promotional I seeing vendor to -- spoken of activity. know potentially

and of think we have how just move relative it, playing I'm business So private that's of I of just to the what curious of the heard trending -- business? the kind I And as into perspective then missed far the out 'XX? part kind is kind so of kind don't of don't is I how kind secondly, may label I but overall

Tony Sarsam

questions. Great Great.

brands are bring even our all, of well national OwnBrands versus strong. first our lot the pretty significant our done penetration times. the that our we've in and overall even of deals as them broader as grown give a discounting the performance light also are in people been of points both some brands. has performance national better to and seeking Units So up course, very inflationary price are substantially We've sales the versus as fact in of up shoppers, try to

first question can was remind more your you quick? So one --

Robert Dickerson

Yes, it visibility of the and promotional was around as activity kind more we...

Tony Sarsam

Perfect.

and our of that overall that's team has ECP done. to core sort So the merchandising work the

shoppers our great earlier terms a what track key really and benefit out with some roughly terms the year had really run We're really, gave we of and overall our So getting points a the And in to great deals. we've us of we've customers. in in to our suppliers. promotional price seen had forecasted deliver great participation on there, turnaround great nice

Jason Monaco

Yes, is Jason. Rob, this

$XX merged $XX be On the to year-to-date, We're transformation, year-end. to target to benefit committed and of that million We're annually. $XX million around tracking we well to million right the that. on of strikes right in by expect we

Robert Dickerson

heard kind dynamics, And occasions. right? let's shopping you and maybe felt All then flotel? documented of well feel and certain insoles geographic you've maybe to far, so bit of fairly your business. club else or channel math And curious of of shift right, in kind be more extent? number wholesale to certain quickly, on months, dollar say, a there that we've into, kind a super. you seems maybe the more a like just been of on Have do part of the regions I'm kind given Or just

Tony Sarsam

seeing an I area some numbers. we're We're give the Yes, match that. -- of national -- our It's perfectly against you numbers example. the in seeing don't

traffic It's foot is So overall down the board. down. across

the to of we're of the Our kind our foot kind time. decline at about seeing traffic overall. half of to same roughly X.X% traffic think competitors X% foot is that's And of most down

are discounters. seeing shifts We to deep

that a of to in dramatic again us range pretty for out in better the And in I the our now was you've year, percent are close find think actually the of EBT some there, the foot one our big benefits also the a both XX-ish of performance our best getting and into place quarter down discounters And function deals mix, find traffic As and that's strictly folks. pre-pandemic best people has overall impact overall our kind where can -- are in again, in for hinted versus sales are getting down our the a that last colored settling in is and on better to them.I trying area. for mentioned the business. business they that's the and had deep decline of element settling EBT

Jason Monaco

transforming it I'd other really important that about Holding I traffic is into important. that traffic, is is and think revenue you on Tony's growth comments, Rob, when think I foot one think to mention know there's foot thing taking

stores retail results.So transform as to market the part challenges out as our things beginning significant some are to seeing experience the and some of SpartanNash kind some improvements we're color strategy, and our our the meat, and the appointing we've to, in in then give retail consumers' produce, our headwinds, outperforming performance, the and the foot best local best we're on the seeing build retail performance. doing transform you work and with of the a all I offerings. consumers Tony and the as operations, it execution, despite our having retail of best our in are traffic in of is the So profile out we're started play our channel alluded Those stores

Operator

from BMO next Our from Capital comes Bania Markets. Kelly question

Benjamin Wood

on Kelly. for Ben is This

So reacting to quarter? would And retail guys and any the at just retail color Just trying inflation the monthly is can you side you side? the get volume inflation how Wholesale start, a any volume? provide if and either on provide are for the the there, you seeing to on Wholesale sales cadence to sense inflation of of lower improvements then guys or

Jason Monaco

and -- side Ben, think decelerated, Wholesale pricing -- as the our ended ended improve. customers. from a Yes. inflation -- for The we've mentioned on is seen quarter, our we've on volume the step-downs around X% stores inflation inbound Jason. this volumes standpoint, seen I to throughout the improve and or we I we both cost standpoint, the But cadence earlier, and standpoint, unit -- from from impact volumes an to wholesale has a unit

Benjamin Wood

kind And the then up conversation. on of just Great. EBT following

just and between think comps. we you why forward? mentioned seeing and that you in think And retail the ex said also pharmacy, it is, headwind X related, somewhat you that Wondering how accelerated trends last think about I guys should months. then Wholesale consistent you're the accelerated going

your impact estimated Just wondering was. what Pharmacy

Jason Monaco

Ben. question, Great Yes.

now. -- particularly from net It's pharmacy, carry are probably, close benefits So headwinds to the from offsetting net offsetting GLP-Xs EBT. slight negative right or a actually the

pretty number X EBT Our high a core clean -- in strip the single between the ones when and of them. is you pharmacy comp out high

result.From So the solid standpoint, EBT asked overall, you had phasing a timing. an I think about

that about of that business outside months in in is geography. funding there's In seeing a we're less X of portion the Some it decline of that and an Michigan, that operate was our ago, Michigan, jurisdictions we of EBT impact there operates the in started in. in particular,

Benjamin Wood

the And I just more, may, one of operating Great. expenses. if on then kind

tracked plan, rates of and Just wondering your internal looking operating to are how kind labor especially your hours XQ expenses how post realignment?

Jason Monaco

Yes.

I'll kind labor we into maybe the before get the hours and start of in with So realignment.

saw X% we labor business. the backdrop especially a the of supply of or improvement context on our mentioned X% national That's a improvement result, hours, some So in in our declines the volume accounts the drove in a earlier of we chain. in throughput great

changes As quarter, here and what far with as third And expense consistent load and in we're we the go-to-market expected. changes, running. we've off our those the is deployed

Operator

from question And Mushkin Scott RX Instructions] comes next Capital. from [Operator our

Scott Mushkin

a said you least. as 'XX? Sorry I'm right now. labor to get How rates little increases about stabilized at or labor we we a the year. voice. next easier bit know horse pay is should I move look into at

Tony Sarsam

Great question, Yes. Scott.

flow as good we on as turnover, improved for on seen here the overall -- us the opening applicants we've stabilization that So a of the well. been mentioned on has which

the for are north I says the this a our X%. little in set. of around some half that are Pay normal We're of the year, compensation bit is competitive of now. back in phase it kind data increase looking right still in year of course, course terms of think so this kind a But we at to of in X%, And us. we had larger behind corrections make

have be of So it we pre pandemic. a been would bit than would sort that higher

from So pay increases year forward even we're of normal seeing we maybe into between kind 'XX. a this and as of pay move elevated range something slightly a

Scott Mushkin

Perfect. down. about inflation And continues to up. step step 'XX, we continues then think to activity as obviously, Promotional

it but all of of it. is Some sponsored, CPG not

business guys' we into this And talk that has 'XX, frame are environment? flat you something move guys been outright as deflation. we of that is or into think inflation about there should as maybe How we potentially So your contemplating?

Jason Monaco

funded 'XX guidance And promotional by an next quarter. promotions. community. we the Broadly the uptick We'll vendor have Jason. in give is environment, this Scott, on been you it's largely on as seen said,

evaluate easing has of We'll is and time And next continue impact forward. unit optimize an to has about we'll the volumes. occurred, share as that like business or going So disinflation on what 'XX we we've think more what seen our looks inflation eased around.

Scott Mushkin

question. a into And that's last good my actually segue

guys have volume about a talked little You better. bit getting

Our are not but different bit would little bit we volume reacting supportive that. you're industry? usually as as at data talking a on you of better isn't than little the is margins really the this elasticities think a think the Do aren't maybe tracking is necessarily you Or getting really juncture? much

Jason Monaco

growth our X.X% would Yes, revenue been have Amazon. ex

we're of So paying from feel solid inflation. months revenue is We XX X still growth standpoint. with a that's a for years the back. saw there spot obviously, back, out to and we And like high inflation. back in to but it's a a XX-year consumer environment dynamic for saw double-digit XX it inflation We winding now

And along a are bit with and consumers bear sure consumers we our that we've try the where them our a so and learn Wholesale as budget. we've so businesses right for doing got both to test that leveraging so that what and in bring customers our to insights this organization. retail it we're the and is make and they we winning and before, we're, the works our way. the we've we got can meet bring their solution can and market, what ensure And said that to see of test out, going propositions for We're

Scott Mushkin

And Any elasticity? volumes? any thoughts the on

Jason Monaco

units we're but -- declining as is too we're specific seeing, We're think seeing disinflating, to or Yes. I it's inflation the respond. early elasticities, call probably

products building highlight -- OwnBrands we our most We in win. began invested of that were to important to the of the and going were years the and portfolio work about things a we're is OwnBrands' most that we performance. in talked that of journey a putting ago. investment one couple think I that We've

we to but unit necessarily responding inflation, it's business didn't very our performance customers. our portfolio, in of and favorably years double-digit volume our own drive brands Now to with and X have helping to expect consumers are

consistently family national are brands. well the Our brands performing and outperforming

Operator

Our from Bank. Krisztina next question from Katai Deutsche comes

Jessica Taylor

that, wanted planning Krisztina. to to with back go on for account Jessica other see reductions for This back something Good -- that your you go how just like in for Amazon good? think drive accounts you business Do the to or coming thoughts in that replace morning. that get volume? Taylor to and is that you're Or forward. just the looking XXXX? And gone that on is you are and is I order

Tony Sarsam

Jessica. Great. Thanks,

One, grocery in those of the So think we're lot changes They're changes of very volume other they're not they're them. down, lot a to what get some business. shared business putting work for information their we in partnering out And Amazon have now. working the the business them looking together food. to in additional with be a with fresh committed committed guess, have for team there's them of and of Amazon to there probably couple about. times confidence kind committed this track going terms their business right with through I strategy this in And through right of a place, always business, businesses. than directly. question has other things that there They're recently on are to other is Amazon that a we our get again. we're manifested of got and our they've a plan being met and get your to way.So that to but think about they'll looking We've handful and the business and all to growing we

we a Wholesale. growth our as think to And where well have of stores So we we have much in retail lot offer. as both here, mentality a

a may some we've we provide. had can we of advantage time in. a and back ago mentioned terms in that who lot the can services we great So back quite the irons left number I in be have in now coming of my have fire businesses opening that great of the of are taking types customers of comments who

the So we both about are our future, growth very for as well in for Amazon business. as optimistic broader

Jessica Taylor

takes just think we for And puts your And little Great. of the that quarter? operating about talk as a and retail can on the the a you about should side? margin how fourth into bit follow-up, drivers the

Jason Monaco

we've disinflation before, pricing Jessica, the Jason. and performance. between mix this Yes, solid is mentioned I unit or volume. And seen

built have on I we near the our traffic their the Tony coming major mentioned as market So outperforming of also term focusing and in opportunities long-term but of before our been plan, about significantly that, feet. focusing operating volumes really securing marketplaces. retail are retail. the not we've that significant in disinflation, with market And talked voting mass market, just foot we players outperforming the the consumers business on that value-creating of price elasticity out the that outperforming

so we're shoppers bakeries are we our shoppers service where produce, local, it's our in and with efforts really around meat, employees. stores putting outperforming we're areas key getting -- whether in getting helpful strategic service the not our only And in store.And but high store, focused execution, in we

of and norm together paired So offerings standpoint. in above proud spaces we're performance comp nice those and really deliver with or to a winning a mix our we're the own helped package at and brand we're both service market that, that's from of drive where

Operator

question next from Saleh And Peter BTIG. is our from

Peter Saleh

correlation also benefit pharmacy? Jason, that on was then calorie are how there. buying GLP-Xs Can lower -- quantify the between And you you're the mentioned are you the you these GLP-Xs benefit seeing I'm some consumption. assuming and and big folks that

that would on Just color any helpful. be

Jason Monaco

overall. that. growth step up came a of Yes. of down result there some majority been have as consumption about XX%, the to that. who in and XX% pharmacies a of haven't players know XX XX% seen overall majority then think other about GLP-X.Pete, have GLP-X was from our -- that we I I in net mentioned growth the were Pharmacies

stores. our haven't We seen explicitly in it

wouldn't driver. So something of as I but it out monitoring, a we're course, call

Operator

call turn over back I'll to questions. further our no the seeing hosts. And

Tony Sarsam

right. today's and SpartanNash We in We'd your for Well, appreciate call. pleasant Our certainly you holiday very to wish interest like thank your yours. participation to all all All on Thanksgiving from a Family season. you

Operator

has meeting have now Thank concluded. day. for pleasant and The joining, you a

SpartanNash (SPTN) 8 Nov 232023 Q3 Earnings call transcript