- Wolfe Research updates on SpartanNash (SPTN +6.3%) following the company' Q1 earnings report.
- The firm keeps a Peer Perform rating amid what it calls a very tough operating climate with a strong management team.
- Wolfe's summary on SPTN: "The business continues to move in the right direction with the Food Distribution segment leading the charge while the Retail business remains held back by the ongoing challenging climate. The equity vaulted forward on Wednesday, making up much of the pullback in February post 4Q results, however, we don’t believe the operating backdrop nor the trajectory of the business to have meaningfully changed despite the volatility in the equity. We continue to believe the team is making the right decisions and is seeing slow and steady progress in certain areas, partly offset by the vagaries of inflation, rising transportation costs, and an ongoing challenging backdrop."
- BMO Capital is also out with a note on SpartanNash, pointing to the strong momentum across its business segments.
- Shares of SpartanNash are up over 30% since the earnings report earlier this week.
- Previously: SpartanNash beats by $0.02, beats on revenue (May 29)
- Previously: Sales mix impacts bottom line at SpartanNash (May 29)
- Now read: Perry Ellis up on earnings beat
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