SpartanNash Company (SPTN): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama dinámico de la distribución de alimentos y el comercio minorista, Spartannash Company (SPTN) surge como una potencia estratégica, que cierra sin problemas la brecha entre proveedores, minoristas y consumidores en diversos mercados. Con un modelo de negocio innovador que abarca la distribución mayorista, las cadenas de suministro militar y el soporte de comestibles independiente, esta compañía con sede en Michigan ha creado magistralmente un enfoque integral que ofrece valor a través de asociaciones intrincadas, logística robusta y un ecosistema de servicios multifacético. Desde suministrar comisarios militares hasta empoderar a las tiendas de comestibles locales, Spartannash representa un sofisticado plan de gestión moderna de la cadena de suministro y posicionamiento estratégico del mercado.

SpartanNash Company (SPTN) - Modelo de negocio: asociaciones clave

Alianza estratégica con minoristas independientes de comestibles

SpartanNash atiende a aproximadamente 2,100 tiendas de comestibles minoristas independientes en 47 estados y brinda servicios de distribución a 455 tiendas de propiedad corporativa o afiliada.

Tipo de asociación	Número de minoristas	Cobertura geográfica
Minoristas de comestibles independientes	2,100	47 estados
Tiendas de propiedad corporativa/afiliada	455	Múltiples regiones

Asociaciones de distribución al por mayor con comisarios militares

Spartannash es el principal distribuidor de 164 comisarios militares en los Estados Unidos, generando aproximadamente $ 1.2 mil millones en ingresos anuales del segmento militar.

Relaciones de proveedores con fabricantes y marcas de alimentos

• Más de 7,000 relaciones activas de proveedores
• Asociaciones con marcas de alimentos nacionales y regionales
• Aproximadamente 12,000 SKU en la cartera de productos

Categoría de proveedor	Número de proveedores	Gama de productos
Marcas nacionales de alimentos	3,500	Artículos empaquetados
Productores regionales de alimentos	3,500	Productos frescos y locales

Acuerdos de colaboración con productores de alimentos locales y regionales

Spartannash mantiene asociaciones con más de 300 productores de alimentos locales y regionales, que respaldan aproximadamente $ 250 millones en ventas de productos locales anualmente.

Proveedores de servicios de transporte y logística

La compañía opera una flota de 550 camiones y colabora con 120 proveedores de logística de terceros para apoyar las operaciones de distribución.

Recurso logístico	Cantidad	Función
Camiones propiedad de la compañía	550	Distribución directa
Proveedores de logística de terceros	120	Red de distribución extendida

Spartannash Company (SPTN) - Modelo de negocio: actividades clave

Distribución de alimentos al por mayor

Spartannash opera como un importante distribuidor de alimentos con $ 10.5 mil millones en ingresos anuales (2022). La compañía atiende aproximadamente 2,100 tiendas de comestibles minoristas independientes en 47 estados y proporciona distribución a los comisarios militares.

Métrico de distribución	Volumen
Total de clientes mayoristas	2,100+ minoristas independientes
Centros de distribución	14 ubicaciones estratégicas
Ingresos anuales de distribución	$ 4.3 mil millones

Operaciones de la tienda de comestibles minoristas

Spartannash opera directamente 155 tiendas de comestibles minoristas en múltiples estados, generando $ 2.1 mil millones en ingresos por segmentos minoristas (2022).

• Opera tiendas bajo múltiples pancartas, incluida la tarifa familiar.
• Administra tiendas en Michigan, Ohio, Indiana y otros estados del medio oeste
• Emplea a aproximadamente 18,000 asociados en operaciones minoristas

Gestión de la cadena de suministro militar y gubernamental

La compañía administra los servicios de la cadena de suministro para 24 comisarios militares, entregando $ 1.2 mil millones en ingresos anuales del segmento militar.

Métrica de la cadena de suministro militar	Detalles
Comisarios militares servidos	24 ubicaciones
Ingresos anuales del segmento militar	$ 1.2 mil millones

Desarrollo de productos de etiqueta privada

SpartanNash desarrolla y comercializa múltiples marcas de etiquetas privadas en categorías de comestibles, lo que representa aproximadamente el 25% de las ofertas totales de productos.

• Las marcas incluyen nuestra familia, Nature's Place y Tippy Toe
• Desarrollado más de 3.000 SKU de etiqueta privada
• Los productos de etiqueta privada generan $ 350 millones en ingresos anuales

Logística y optimización de la cadena de suministro

La compañía mantiene 14 centros de distribución que cubren 5.2 millones de pies cuadrados de espacio de almacén, lo que permite el movimiento eficiente de productos y la gestión de inventario.

Métrica logística	Especificación
Centros de distribución	14 ubicaciones
Espacio de almacén	5.2 millones de pies cuadrados
Millas de transporte anuales	Más de 65 millones de millas

SpartanNash Company (SPTN) - Modelo de negocio: recursos clave

Red de distribución extensa

Spartannash opera en 47 estados y opera 169 tiendas minoristas a partir de 2023. La compañía administra 14 centros de distribución que cubren aproximadamente 4.3 millones de pies cuadrados de espacio de almacén.

Métrico de distribución	Cantidad
Centros de distribución totales	14
Espacio total de almacén	4.3 millones de pies cuadrados.
Estados cubiertos	47
Tiendas minoristas	169

Sistemas de gestión de inventario

SPARTANNASH utiliza sistemas avanzados de planificación de recursos empresarial de SAP (ERP) para Seguimiento de inventario en tiempo real. La compañía administra aproximadamente $ 1.2 mil millones en inventario total a partir de 2023.

Flota de distribución y almacenes

• Camiones de distribución totales: 584
• Flota de camiones refrigerada: 312 unidades
• Ubicaciones de almacén: 14 instalaciones estratégicamente posicionadas
• Millas de transporte anuales: aproximadamente 28 millones de millas

Relaciones de marca

Spartannash mantiene asociaciones con más de 6,000 fabricantes y proveedores de alimentos, incluidas las principales marcas como Kraft Heinz, Kellogg's y Procter & Jugar.

Equipos de gestión y operativos

Métrico de equipo	Cantidad
Total de empleados	18,500
Puestos de gestión	Aproximadamente 1,200
Experiencia de gestión promedio	12.5 años

SpartanNash Company (SPTN) - Modelo de negocio: propuestas de valor

Soluciones integrales de distribución de alimentos para minoristas

SpartanNash atiende a más de 2,100 tiendas de comestibles independientes en 47 estados. El volumen total de distribución alcanza 1.800 millones de casos anualmente. Los ingresos de distribución bruta en 2022 fueron de $ 7.3 mil millones.

Métrico de distribución	Valor
Tiendas independientes atendidas	2,100+
Volumen de distribución anual	1.800 millones de casos
Ingresos de distribución bruta (2022)	$ 7.3 mil millones

Amplia gama de productos nacionales y privados

La cartera de productos incluye:

• Más de 9,000 SKU únicos
• 57 marcas de etiqueta privada
• National Brand Almejas con más de 300 fabricantes

Servicios eficientes de la cadena de suministro y logística

SpartanNash opera 14 centros de distribución que cubren 4.2 millones de pies cuadrados. Las métricas de eficiencia de almacén incluyen:

Métrica logística	Valor
Centros de distribución	14
Espacio total de almacén	4.2 millones de pies cuadrados
Envíos diarios de camiones	1,200+ camiones

Soporte para tiendas de comestibles independientes

SpartanNash brinda servicios integrales de soporte de minoristas:

• Soluciones tecnológicas para más de 2,100 tiendas independientes
• Programas de soporte de marketing
• Sistemas de gestión de inventario

Servicios especializados de suministro de alimentos militares y gubernamentales

Detalles del segmento militar:

• Sirve a más de 250 comisarios militares
• Ingresos anuales del segmento militar: $ 1.1 mil millones
• Distribuidor exclusivo para regiones de agencia de comisario de defensa múltiple

Métrica de distribución militar	Valor
Comisarios militares servidos	250+
Ingresos del segmento militar	$ 1.1 mil millones

SpartanNash Company (SPTN) - Modelo de negocio: relaciones con los clientes

Asociaciones contractuales a largo plazo con minoristas

SpartanNash mantiene 2.100 tiendas de comestibles minoristas a través de asociaciones de distribución directa y mayorista a partir de 2023. La compañía atiende a aproximadamente 2,000 minoristas de comestibles independientes en 47 estados.

Tipo de asociación	Número de minoristas	Valor anual del contrato
Tiendas de comestibles independientes	2,000	$ 1.2 mil millones
Contratos de comisario militar	250	$ 450 millones

Atención al cliente dedicada para clientes mayoristas

Spartannash opera un centro de atención al cliente dedicado que maneja aproximadamente 5,000 consultas de clientes al por mayor mensualmente.

• Disponibilidad de soporte al cliente 24/7
• Equipos especializados de gestión de cuentas
• Canales de comunicación directa

Servicio personalizado para tiendas de comestibles independientes

La compañía ofrece soporte personalizado de comercialización y marketing a 1.500 socios independientes de la tienda de comestibles.

Categoría de servicio	Cobertura	Inversión anual
Soporte de marketing	85% de minoristas independientes	$ 22 millones
Optimización de inventario	1.200 tiendas	$ 15 millones

Ordenamiento de tecnología y gestión de inventario

SpartanNash implementa plataformas digitales avanzadas que atienden al 98% de los clientes mayoristas con seguimiento de inventario en tiempo real.

• Sistemas de pedidos electrónicos
• Visibilidad de inventario en tiempo real
• Análisis predictivo para la gestión de acciones

Plataformas de servicio al cliente receptivas

La compañía mantiene una calificación de satisfacción del cliente del 92% a través de mecanismos de soporte multicanal.

Canal de soporte	Tiempo de respuesta	Volumen de interacción anual
Soporte telefónico	<3 minutos	125,000 llamadas
Soporte digital	<2 horas	85,000 interacciones

SpartanNash Company (SPTN) - Modelo de negocio: canales

Equipo de ventas directas

SpartanNash mantiene un equipo de ventas directas de 150 representantes de ventas profesionales a partir de 2024, que cubre múltiples segmentos de distribución.

Tipo de canal de ventas	Número de representantes	Ventas anuales promedio por representante
Segmento de comestibles minoristas	85	$ 3.2 millones
Segmento de comisario militar	35	$ 2.7 millones
Segmento de distribución mayorista	30	$ 4.1 millones

Plataformas de pedidos en línea

SpartanNash opera múltiples plataformas de pedido digital con 12,500 clientes comerciales activos en 2024.

• Plataforma de pedidos al por mayor B2B
• Sistema de adquisiciones digitales del comisario militar
• Sistema de gestión de inventario de tiendas minoristas

Centros de distribución al por mayor

Spartannash opera 13 centros de distribución en los Estados Unidos, que cubre 4,2 millones de pies cuadrados de espacio de almacén.

Ubicación	Pies cuadrados	Volumen de distribución anual
Michigan	1.2 millones de pies cuadrados	$ 3.6 mil millones
Minnesota	850,000 pies cuadrados	$ 2.9 mil millones
Otros lugares	2.15 millones de pies cuadrados	$ 5.5 mil millones

Redes de suministro de comisario militar

Spartannash atiende a 68 comisarios militares en 14 estados, con un valor de contrato anual de $ 425 millones.

Representantes de ventas regionales

Spartannash emplea a 42 representantes de ventas regionales que cubren territorios geográficos específicos.

Región	Número de representantes	Cobertura de ventas anual
Medio oeste	18	$ 1.7 mil millones
Nordeste	12	$ 1.2 mil millones
Oeste	12	$ 1.5 mil millones

SpartanNash Company (SPTN) - Modelo de negocio: segmentos de clientes

Minoristas de comestibles independientes

Spartannash sirve aproximadamente 2,100 tiendas de comestibles independientes en 47 estados y 7 países. La compañía ofrece servicios de distribución mayorista integrales a estos minoristas.

Característica de segmento	Datos específicos
Número de minoristas independientes atendidos	2,100
Cobertura geográfica	47 estados de EE. UU. Y 7 países

Sistemas de comisario militar

Spartannash es el principal distribuidor de la Agencia de Comisario de Defensa (DECA), que gestiona la distribución a 172 comisarios militares en todo el mundo.

Característica de segmento	Datos específicos
Comisarios militares servidos	172
Alcance de distribución global	Instalaciones militares en todo el mundo

Instituciones gubernamentales

La compañía proporciona servicios de distribución de alimentos a varias instituciones gubernamentales, incluidas escuelas, instalaciones correccionales y otras organizaciones del sector público.

• Programas de almuerzo escolar K-12
• Instalaciones correccionales estatales
• Instituciones del gobierno federal

Operadores de servicio de alimentos

SpartanNash sirve múltiples segmentos de servicio de alimentos con soluciones de distribución integrales.

Segmento de servicio de alimentos	Alcance de distribución
Restaurantes	Establecimientos regionales y locales
Hospitales	Servicios de alimentos de atención médica
Industria hotelera	Hoteles y servicios de catering

Cadenas de comestibles regionales y nacionales

Spartannash se distribuye a múltiples cadenas de comestibles regionales y nacionales, proporcionando soluciones integrales de la cadena de suministro.

• Tiendas de comestibles de granja
• Supermercados de tarifas familiares
• Save-a-lot red

Tipo de cadena de comestibles	Número de tiendas atendidas
Cadenas regionales	138
Cadenas nacionales	26

SpartanNash Company (SPTN) - Modelo de negocio: Estructura de costos

Gastos de transporte y logística

Para el año fiscal 2022, Spartannash informó gastos de transporte y logística de $ 264.5 millones. La compañía opera una flota de aproximadamente 550 tractores y 1.650 remolques para su distribución.

Categoría de gastos	Costo anual
Costos de combustible	$ 47.3 millones
Mantenimiento del vehículo	$ 22.6 millones
Salarios del conductor	$ 89.7 millones

Mantenimiento de almacén y centro de distribución

SpartanNash mantiene 170 centros de distribución en 44 estados, con costos de mantenimiento anual de $ 38.2 millones.

• Reparación y mantenimiento de las instalaciones: $ 12.5 millones
• Gastos de servicios públicos: $ 9.7 millones
• Mantenimiento del equipo: $ 16 millones

Costos de adquisición de inventario

Los gastos de adquisición de inventario total para 2022 fueron de $ 6.4 mil millones, lo que representa una parte significativa de los costos operativos de la compañía.

Categoría de adquisición	Gasto anual
Productos de alimentos y comestibles	$ 4.8 mil millones
Productos frescos	$ 687 millones
Artículos especializados	$ 315 millones

Tecnología e infraestructura del sistema

Spartannash invirtió $ 24.3 millones en infraestructura tecnológica y sistemas digitales en 2022.

• Hardware de TI: $ 7.2 millones
• Licencias de software: $ 6.5 millones
• Ciberseguridad: $ 4.1 millones
• Transformación digital: $ 6.5 millones

Personal y gastos generales operativos

Los gastos totales de personal para 2022 fueron de $ 512.6 millones, que cubren aproximadamente 18,000 empleados.

Categoría de costos de personal	Gasto anual
Salarios y salarios	$ 387.4 millones
Beneficios y seguro	$ 98.2 millones
Capacitación y desarrollo	$ 27 millones

Spartannash Company (SPTN) - Modelo de negocio: flujos de ingresos

Tarifas de distribución de alimentos al por mayor

Los ingresos al por mayor de distribución de alimentos de Spartannash en 2022 fueron de $ 7.1 mil millones. La compañía atiende a más de 2.100 tiendas de comestibles minoristas independientes en 47 estados y el Caribe.

Segmento de distribución mayorista	Ingresos anuales
Tiendas de comestibles independientes atendidas	2,100+
Cobertura geográfica	47 Estados y Caribe
Ingresos mayoristas totales (2022)	$ 7.1 mil millones

Venta de tiendas de comestibles minoristas

Spartannash opera 155 tiendas minoristas de propiedad corporativa que generan $ 2.1 mil millones en ventas minoristas anuales.

Detalles del segmento minorista	Métrica
Número de tiendas corporativas	155
Ventas minoristas anuales	$ 2.1 mil millones

Ingresos contratados militares y gubernamentales

Los ingresos del segmento militar en 2022 fueron de aproximadamente $ 623 millones, atendiendo a 165 comisarios militares.

Métricas de distribución militar	Valor
Comisarios militares servidos	165
Ingresos del segmento militar (2022)	$ 623 millones

Venta de productos de etiqueta privada

Las ventas de productos de etiqueta privada contribuyeron aproximadamente $ 450 millones a los ingresos de la compañía en 2022.

Logística y tarifas de servicio de la cadena de suministro

La cadena de suministro y los servicios de logística generaron aproximadamente $ 250 millones en ingresos adicionales para Spartannash en 2022.

Flujo de ingresos	2022 Ingresos
Distribución al por mayor	$ 7.1 mil millones
Ventas de tiendas minoristas	$ 2.1 mil millones
Contratos militares	$ 623 millones
Ventas de etiqueta privada	$ 450 millones
Servicios logísticos	$ 250 millones
Ingresos totales de la empresa	$ 10.524 mil millones

SpartanNash Company (SPTN) - Canvas Business Model: Value Propositions

You're looking at the core promises SpartanNash Company (SPTN) makes to its various customer groups, grounded in their late 2025 operational reality. Here's the breakdown of what they are delivering.

Full-service food solutions for independent grocers and national accounts.

This value is delivered through the Wholesale segment, which is the majority of the business. For the second quarter of fiscal 2025, Wholesale segment net sales were $1.51 billion. Wholesale sales accounted for about two-thirds of SpartanNash's total sales in Q2 2025. The company supports this channel by bringing together nearly 2,000 independent grocers and grocery suppliers at its annual Food Solutions Expo in August 2025.

The segment breakdown for recent quarters shows the scale of this proposition:

Metric	Q2 Fiscal 2025	Q1 Fiscal 2025
Wholesale Net Sales	$1.51 billion	$1.96 billion
Retail Net Sales	$762.9 million	$947.2 million

Reliable, global distribution to U.S. military bases worldwide.

The military customer channel provides a consistent anchor for the Wholesale segment. In the first quarter of fiscal 2025, the company reported 13 Quarters of Growth in Military Net Sales Compared to Prior Year Quarters. Higher sales to military customers helped partially offset the declines SpartanNash recorded in other parts of its wholesale business during Q2 2025.

Neighborhood grocery experience balancing value and differentiated offerings.

SpartanNash Company operates nearly 200 brick-and-mortar grocery stores. The retail segment delivered net sales of $762.9 million in the second quarter of fiscal 2025. The in-store experience is defined by banners such as Family Fare, D&W Fresh Market, Martin's Super Markets, and Supermercado Nuestra Familia. Retail comparable store sales were up 1.6% in the first quarter of fiscal 2025, but decreased 0.5% in the second quarter of fiscal 2025 due to lower unit volumes.

Improved in-stock rates and pricing accuracy via digitized shelf management.

The focus on operational improvements is a stated driver of financial results. The CEO noted the team's focus on operational excellence contributed to the quarter's strong Wholesale margins in Q1 2025. The company is executing on its long-term strategic turnaround plan.

Quality and value through the OwnBrands portfolio.

The company is actively managing and marketing its private label offerings. The OwnBrands portfolio includes specific product lines:

• - Our Family® portfolio of products.
• - Fresh and Finest™ by Our Family.
• - Finest Reserve™ by Our Family.

Finance: draft 13-week cash view by Friday.

SpartanNash Company (SPTN) - Canvas Business Model: Customer Relationships

You're looking at how SpartanNash Company (SPTN) manages its connections across its diverse customer base as of late 2025. This isn't just about selling; it's about maintaining critical, high-volume distribution contracts alongside direct consumer engagement in their retail footprint.

For your wholesale customers, which represent the bulk of the business, the relationship is managed through dedicated structures. In the second quarter of fiscal 2025, wholesale segment net sales were $1.51 billion, making up about two-thirds of the company's total net sales for that period. This segment serves a wide array of partners, including independent and chain grocers, national retail brands, and e-commerce platforms. As of the context surrounding their 2024 reporting, SpartanNash distributed groceries to over 2,300 independent retailers across the U.S..

The relationship with the U.S. military is a cornerstone of the wholesale segment, characterized by a high-touch, long-term commitment. SpartanNash Company is the exclusive supplier of private-label products to the U.S. Defense Commissary Agency (DeCA). This critical partnership, which involves supplying private-brand products to DeCA commissaries that sell roughly $4 billion in groceries annually, has a contract extension running through December 15, 2025. SpartanNash Military distributes products to 160 commissaries and 400 exchanges across 39 U.S. states and overseas locations. To illustrate the scale of this commitment, in 2021, SpartanNash Military delivered more than 70,000 loads to domestic military families.

In the retail shopper segment, the focus shifts to loyalty and digital interaction. Retail segment net sales showed significant growth, increasing 19.6% to $947.2 million in the first quarter of fiscal 2025, largely driven by incremental sales from acquired stores. However, the direct transactional relationship showed some strain, as retail comparable store sales decreased by about 0.5% in the second quarter of 2025 due to lower unit volumes. The company historically uses a loyalty program, referred to as the 'Yes' program, which integrates email, pharmacy, and fuel promotions. While specific 2025 engagement metrics for SpartanNash's program aren't public, industry trends suggest that for brands leveraging loyalty, nearly 70% report increased customer engagement, and 58% see a boost in repeat purchases.

Community-focused initiatives are supported through the SpartanNash Foundation. For example, the Foundation donated $400,000 to 126 Food Pantries across the country in a recent reported period, demonstrating a commitment to local support beyond direct commerce.

The direct, transactional relationships occur across the company's owned retail footprint. As of the context surrounding their 2024 reporting, SpartanNash operated almost 200 grocery stores. These stores, operating under banners like Family Fare, are the direct point-of-sale where the final customer interaction takes place.

Here's a quick look at the segment split defining these relationships in Q2 2025:

Customer Relationship Type Proxy	Segment Sales Contribution (Q2 2025)	Year-over-Year Sales Change (Q2 2025)
Wholesale (Dedicated Sales/Account Mgmt)	$1.51 billion (Approx. 66.5% of Net Sales)	Decreased 3.0%
Retail (Transactional/Loyalty)	$762.9 million (Approx. 33.5% of Net Sales)	Increased 12.8%

The company's overall net sales for the second quarter of fiscal 2025 rose by just under 2%, reaching about $2.27 billion.

You should review the impact of the pending C&S Wholesale Grocers transaction, expected to close in late 2025, as this will fundamentally alter the structure of the wholesale customer relationships moving forward.

Finance: draft 2026 budget assumptions for military contract renewal impact by Friday.

SpartanNash Company (SPTN) - Canvas Business Model: Channels

You're looking at how SpartanNash Company (SPTN) gets its products to customers, which is a mix of massive logistics and direct retail presence, especially as they finalize the C&S Wholesale Grocers transaction expected in late 2025.

The Wholesale distribution fleet and logistics network is the backbone, moving product to independent and chain grocers, national retail brands, and e-commerce platforms. For the first quarter of fiscal 2025, this Wholesale segment generated net sales of $1.96 billion. By the second quarter of fiscal 2025, Wholesale segment net sales were $1.51 billion. The company distributes products across 44 states, and also serves locations in Europe, Latin America, and the Middle East through its military distribution arm.

For the corporate-owned brick-and-mortar stores, SpartanNash Company operates nearly 200 grocery stores across 10 states. The primary retail banners you see on the ground include Family Fare, Martin's Super Markets, and D&W Fresh Market. The Retail segment's net sales for Q1 2025 were $947.2 million, showing a 19.6% increase driven by recent acquisitions. In Q2 2025, Retail segment net sales grew to $762.9 million, a 12.8% increase. The company also operates dozens of pharmacies and fuel centers with convenience stores alongside these supermarkets.

Here's a quick look at how the two main segments stacked up in the first half of the fiscal year:

Channel Segment	Q1 Fiscal 2025 Net Sales	Q2 Fiscal 2025 Net Sales
Wholesale	$1.96 billion	$1.51 billion
Retail	$947.2 million	$762.9 million

The e-commerce platforms are served directly through the Wholesale channel, as they are listed as a key wholesale customer type. While specific e-commerce revenue isn't broken out, the overall strategy involves distributing to these digital fulfillment operations alongside traditional retail partners.

The direct sales channel to U.S. military commissaries and exchanges is a significant component, handled through the MDV SpartanNash military division. The search results confirm that SpartanNash is the largest food distributor serving these military customers. Higher sales in the military customer channel partially offset declines in other wholesale areas during Q1 and Q2 2025. The full-year fiscal 2025 guidance projects total net sales between $9.8 billion and $10.0 billion.

Regarding the Hispanic foods market, the company operates retail stores under banners like Family Fare, but the specific financial contribution or store count for a Supermercado Nuestra Familia banner isn't explicitly detailed in the latest reports, though the overall retail segment is focused on delivering value and experience to shoppers.

Finance: draft 13-week cash view by Friday.

SpartanNash Company (SPTN) - Canvas Business Model: Customer Segments

You're looking at the customer base for SpartanNash Company (SPTN) right before the C\&S Wholesale Grocers acquisition closed in mid-2025. The business model clearly splits its focus between serving other businesses (Wholesale) and serving the end shopper directly (Retail).

The Wholesale segment remains the largest component by volume, though its share is shrinking relative to Retail's growth. For the second quarter of fiscal 2025 (Q2 FY2025), the Wholesale segment accounted for about two-thirds of SpartanNash Company's total sales, down from just under 70% in the second quarter of fiscal 2024. This segment's net sales in Q2 FY2025 dropped by 3%, landing at approximately $1.5 billion, while the Retail segment sales rose by almost 13% to about $763 million, making up the rest of the total net sales of just under $2.3 billion for that quarter.

The full-year fiscal 2025 guidance projected total net sales between $9.8 billion and $10.0 billion.

Here's a quick look at the segment breakdown based on the latest reported quarter:

Customer Segment Group	Latest Reported Net Sales (Q2 FY2025)	Approximate Sales Share (Q2 FY2025)	Year-over-Year Sales Change (Q2 FY2025 vs Q2 FY2024)
Wholesale (Total)	Approximately $1.5 billion	About two-thirds	Down 3%
Retail (Total)	Approximately $763 million	About one-third	Up almost 13%
Total Net Sales	Just under $2.3 billion	100%	Up just under 2%

The customer segments served by the Wholesale arm are quite diverse, showing the breadth of SpartanNash Company's supply chain reach:

• - Independent and Chain Grocers (Wholesale segment).
• - U.S. Military Commissaries and Exchanges (Military segment), which saw higher sales in Q1 FY2025 and partially offset wholesale declines.
• - National Retail Accounts and e-commerce platforms, which experienced reduced case volumes in Q1 FY2025.

For the Direct Retail Consumers, SpartanNash Company operates a significant physical footprint. As of late 2024, the company ran nearly 200 brick-and-mortar grocery stores, primarily under banners like Family Fare, Martin's Super Markets, and D\&W Fresh Market. These retail operations also include dozens of pharmacies and fuel centers with convenience stores. Retail comparable store sales showed growth of 1.6% in Q1 FY2025, though they were down by about half a percentage point in Q2 FY2025 due to lower unit volumes.

The Convenience Store Sector represents a specific area of recent strategic focus and acquisition. For instance, the company acquired Markham Enterprises, a convenience store and fuel station operator, in late 2024. Management indicated plans to lean into the convenience store sector as one of its three key retail growth platforms moving forward.

SpartanNash Company (SPTN) - Canvas Business Model: Cost Structure

You're looking at the core expenses SpartanNash Company (SPTN) faces to keep its dual wholesale and retail engine running, especially as it navigates a major acquisition. Honestly, for a grocer and distributor, the cost side is where the thin margins get even thinner.

High cost of goods sold (COGS) for inventory procurement is the single largest drain, which is standard for this industry. You see this pressure clearly in the first quarter of fiscal 2025. For the 16-week period ended April 19, 2025, Net Sales hit $2.91 billion, but the Cost of Sales was reported at $2,428,130 (in thousands, or $2.428 billion). This relationship dictates the gross margin you see.

Here's a quick look at the key components from that Q1 2025 snapshot:

Financial Line Item (Q1 2025, in thousands)	Amount
Net Sales	$2,909,624
Cost of Sales	$2,428,130
Gross Profit	$481,494

Significant labor costs, including retail store wages and benefits are another major structural expense. The pressure on wages is evident because the reported Net Earnings for Q1 2025 were explicitly noted as being lower due to, among other things, Retail store wages. Keeping that People First culture humming requires investment, but it hits the bottom line.

The Operating expenses for the extensive distribution and logistics network are captured in the Selling, General, and Administrative (SG&A) line. For Q1 2025, Total Operating Expenses were $462,533 (in thousands, or about $462.5 million), with SG&A accounting for $459,061 (in thousands) of that total. This covers everything from running the nearly 60 distribution centers to managing the retail footprint.

You must factor in Depreciation and amortization (a planned increase impacting Q1 2025 net earnings). This non-cash charge is a planned headwind; the adjusted EPS guidance for the full fiscal year 2025 reflects an approximate $0.30 impact from increased D&A, alongside incremental interest costs. This planned increase directly lowered the Q1 Net Earnings to just $2.1 million, down from $13.0 million in the prior year.

Finally, the costs tied to transition are material. You're seeing expenses related to the pending C&S merger and organizational realignment. Specifically, Q1 2025 Net Earnings were lower due to organizational realignment expense. More recently, the Q2 2025 results indicated that net earnings were lower due to costs associated with the pending merger, alongside the organizational realignment.

These ongoing costs shape the operational reality:

• Planned D&A increase impacting fiscal 2025 Adjusted EPS by approximately $0.30.
• Organizational realignment expense cited as a drag on Q1 2025 Net Earnings.
• Costs related to the pending C&S merger were also a factor in Q2 2025 net earnings pressure.
• The C&S transaction value is $1.77 billion, including assumed net debt.

Finance: draft 13-week cash view by Friday.

SpartanNash Company (SPTN) - Canvas Business Model: Revenue Streams

You're looking at the core ways SpartanNash Company brings in cash as of late 2025, right before the C&S Wholesale Grocers transaction is expected to close. Honestly, the revenue picture is split between two main operational segments, plus a key channel that keeps showing up as a growth area.

The overall expectation for the year is solid, even with the pending acquisition creating some noise. SpartanNash reaffirmed fiscal 2025 guidance, projecting total net sales between $9.8 billion and $10.0 billion. That midpoint growth target sits around 3.7% for the full year.

Here's a breakdown of the key revenue components based on the latest reported quarterly figures from the second quarter of fiscal 2025, which ended July 12, 2025:

Revenue Stream Component	Q2 2025 Amount	Context/Change from Prior Period
Wholesale Segment Net Sales	$1.51 billion	Decreased 3.0% from prior year's Q2, due to lower case volumes in national accounts.
Retail Segment Net Sales	$762.9 million	Increased 12.8% from prior year's Q2, driven by incremental sales from acquired stores.
Total Consolidated Net Sales (Q2 2025)	$2.27 billion	Overall increase of 1.8% year-over-year for the quarter.

The Wholesale Segment, while seeing a recent dip to $1.51 billion in Q2 2025, still benefits significantly from its distribution network. For comparison, Q1 2025 Wholesale net sales were $1.96 billion. This segment's revenue stream is heavily reliant on serving independent and chain grocers, national retail brands, and e-commerce platforms.

The Retail Segment is showing growth through acquisition, pushing its Q2 2025 sales to $762.9 million. Still, you have to watch the comparable store sales, which were down 0.5% in Q2 2025 due to lower unit volumes. The company is actively investing in remodels and expanding its footprint in specific markets, like the Hispanic food sector, to drive organic retail revenue.

A consistent growth driver within the Wholesale Segment is sales to the U.S. military channel. These sales partially offset the declines seen in other wholesale channels during Q2 2025. This channel represents a stable, recurring revenue base for SpartanNash Company.

Another important, though less directly quantified, revenue factor is the margin on private label products. SpartanNash Company distributes products including its OwnBrands, which feature the Our Family® portfolio of products. While a specific private label margin percentage isn't explicitly stated for Q2 2025, the company did note that an improved Wholesale segment gross margin rate contributed to better profitability in Q1 2025, and Q2 2025 results were driven by cost savings and expanded margins overall. Better margins on these owned brands definitely help the bottom line.

You should also note the expected contribution from the 53rd week in the fiscal year, which management estimates will add net sales of $0.2 billion to the full-year total.

Finance: draft 13-week cash view by Friday.