Revenue during the quarter grew 3.40 percent to $1,828.18 million from $1,768.02 million in the previous year period. Gross margin for the quarter contracted 43 basis points over the previous year period to 14.18 percent. Total expenses were 98.65 percent of quarterly revenues, up from 98.13 percent for the same period last year. That has resulted in a contraction of 52 basis points in operating margin to 1.35 percent.

Operating income for the quarter was $24.62 million, compared with $33 million in the previous year period.

However, the adjusted operating income for the quarter stood at $35.76 million compared to $35.40 million in the prior year period. At the same time, adjusted operating margin contracted 5 basis points in the quarter to 1.96 percent from 2 percent in the last year period.

“Our fourth quarter performance was a strong finish to an equally strong fiscal 2016 as we continued to grow sales and exceed our earnings guidance despite a continued challenging deflationary environment,” stated Dennis Eidson, SpartanNash's Chief Executive Officer and Chairman of the Board. “Our results reflect the sound execution of our strategy to leverage our supply chain network in order to drive new and expanded customer supply business. We also posted our fourth consecutive quarter of improved retail comparable store sales trends as we benefited from the shift of New Year’s Day into fiscal 2017. Additionally, we announced the acquisition of Caito Foods Service, a leading supplier of fresh fruits and vegetables as well as value-added meal solutions for retailers, and Blue Ribbon Transport, which provides temperature-controlled distribution and logistics services throughout North America. We were also competitively awarded by the Defense Commissary Agency to be the exclusive worldwide supplier of private brand products to U.S. military commissaries, and we look forward to expanding on these opportunities in 2017.”

For fiscal year 2017, SpartanNash Company expects diluted earnings per share to be in the range of $2.10 to $2.19 and its adjusted diluted earnings per share to be in the range of $2.26 to $2.35.

The company has spent $68.23 million cash to meet investing activities during the year as against cash outgo of $95.30 million in the last year.

The company has spent $83.93 million cash to carry out financing activities during the year as against cash outgo of $107.70 million in the last year period.

Cash and cash equivalents stood at $24.35 million as on Dec. 31, 2016, up 7.18 percent or $1.63 million from $22.72 million on Jan. 02, 2016.

Working capital decreases marginally
SpartanNash Company has witnessed a decline in the working capital over the last year. It stood at $387.51 million as at Dec. 31, 2016, down 2.21 percent or $8.76 million from $396.26 million on Jan. 02, 2016. Current ratio was at 1.77 as on Dec. 31, 2016, down from 1.81 on Jan. 02, 2016.

Cash conversion cycle (CCC) has decreased to 11 days for the quarter from 12 days for the last year period. Days sales outstanding were almost stable at 7 days for the quarter, when compared with the last year period.

Days inventory outstanding was almost stable at 14 days for the quarter, when compared with the last year period. At the same time, days payable outstanding was almost stable at 10 days for the quarter, when compared with the previous year period.