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Spartan fights economy with jump in net sales


GRAND RAPIDS, Mich. Supermarket operator Spartan Stores had a $9.3 million jump in consolidated net sales during first quarter of its fiscal year 2010, the company announced in an earnings release this week.

That and a 9.4% increase in EBITDA stemmed mostly from Spartan’s acquisition of VG’s Food and Pharmacy stores, the company said. First-quarter operating earnings increased moderately, to $15.1 million compared with first quarter fiscal year 2009.

“We are pleased to report steady operating profits despite the prolonged economic challenges and the incremental costs associated with this year’s business and operational initiatives,” Spartan president and CEO Dennis Eidson said in a statement. “As anticipated, comparable store sales at our retail supermarkets declined during the quarter due to economic uncertainty, which is causing changes in consumer purchase behavior, such as a shift to lower-priced private label products, and price deflation in certain high-volume product categories.”

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