Earnings Call Excerpt
Spartan Stores, Inc. (SPTN)
F2Q08 (Qtr End 09/15/07) Earnings Call
October 18, 2007, 09:00 a.m. ET
Executives
Craig Sturken - President and Chief Executive Officer
David Staples - Executive Vice President and Chief Financial Officer
Dennis Eidson - Executive Vice President and Chief Operating Officer
Ted Adornato - Executive Vice President of Retail Operations
Alex DeYonker - Executive Vice President, General Counsel and Secretary
Analysts
Barkley Smith - Bank of America Securities, LLC
Perry Caicco - CIBC World Markets
Karen Short - Friedman Billings Ramsey
Charles Cerankosky - FTN Midwest Securities Corporation
Presentation
Operator
Good evening ladies and gentlemen, and welcome to the Spartan Stores, Inc. Fiscal 2008 Second Quarter Earnings Conference Call. (Operator Instructions).
As a reminder, this conference is being recorded. And ladies and gentlemen, I must remind you that comments made by management during today’s call will contain forward-looking statements. These forward-looking statements discuss plans, expectations, estimates and projections that involve significant risk and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements. Internal and external factors that might cause such a difference include among others, competitive pressures among food, retail, and distribution companies, the uncertainties inherent in implementing strategic plans and general economic and market conditions.
Additional information about risk factors and the uncertainties associated with our forward-looking statements can be found in the company’s earnings announcement, annual report on Form 10-K and our other filings with the SEC. Because of these risks and uncertainties, investors should not place undue reliance on forward-looking statements. Spartan Stores disclaims any intention or obligation to update or revise any forward-looking Statement. It is now my pleasure to introduce your host, Mr. Craig Sturken, President and Chief Executive Officer for Spartan Stores Incorporated. Thank you Mr. Sturken, you may now begin.
Craig Sturken
Thank you very much. Good morning everyone, and thank you for joining our Fiscal 2008 Second Quarter Earnings Conference Call. With me this morning are members of our team including Executive VP and CFO Dave Staples, Chief Operating Officer Dennis Eidson, our Executive Vice President of Retail Operations, Ted Adornato and Executive Vice President, General Counsel Alex DeYonker.
Our Second Quarter financial results continued to show substantial improvement in both sales and earnings growth, which marks our sixth and seventh consecutive quarters of net sales and operating earnings growth respectively. We made steady progress during the quarter, and many of the business initiatives that are continuing to strengthen and favorably position Spartan Stores in a very competitive marketplace. These initiatives include assessing and integrating the retail operations of 20 Felpausch stores, ramping up the substantial new distribution of business with Martin’s Super Markets and expanding supply relationships with our existing distribution customers in Southeast Michigan.
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