SpartanNash appoints Jay Mahabir as VP of Retail Operations

GRAND RAPIDS, Mich. - SpartanNash (NASDAQ:SPTN), a food solutions company with a market capitalization of $670 million and an overall "Fair" financial health rating according to InvestingPro, has named Jay Mahabir as its new Vice President, Retail Operations, effective today. Mahabir will be responsible for nearly 200 grocery stores across 10 states, aiming to enhance both in-store and online customer experiences.

Bringing a wealth of experience from previous roles at Meijer, Lowe’s, and Target, Mahabir is recognized for his accomplishments in Associate retention, customer service, and operational excellence. His immediate focus will be on improving the shopping experience by emphasizing freshness, value, and convenience, as well as developing the company’s talent pipeline to bolster career opportunities for retail Associates. The company maintains strong liquidity with a current ratio of 1.57 and has consistently paid dividends for 20 consecutive years, with a current yield of 4.45%.

SpartanNash’s Senior Vice President and Chief Retail Officer, Djouma Barry, expressed confidence in Mahabir’s ability to lead these initiatives, highlighting the importance of his role in the company’s ongoing efforts to provide an exceptional shopping experience.

The appointment comes as SpartanNash continues to expand its retail presence, following the acquisitions of Metcalfe’s Market, Fresh Encounter Inc., and Markham Enterprises Inc. in 2024. The company operates nearly 200 brick-and-mortar grocery stores, primarily under the banners of Family Fare, Martin’s Super Markets, and D&W Fresh Market, and offers a suite of support services for independent grocers.

SpartanNash, which also operates a food wholesale segment and a global supply chain network, is committed to fostering a People First culture among its 20,000 Associates. The company’s retail strategy involves leveraging insights and solutions across its segments to deliver the ingredients for a better life to its customers.

This leadership change is part of SpartanNash’s strategic efforts to strengthen its position in the grocery retail sector and improve the shopping experience for its customers. The information is based on a press release statement from SpartanNash.

In other recent news, SpartanNash reported its fourth-quarter earnings for 2024, surpassing analysts’ expectations with an earnings per share (EPS) of $0.42 compared to the forecasted $0.33. The company reported revenue of $2.26 billion, which met forecasts, despite a 2% year-over-year decline in full-year net sales. SpartanNash achieved a record adjusted EBITDA of $258.5 million and returned $45 million to shareholders through share repurchases and dividends. Looking forward, the company projects net sales for 2025 to be between $9.8 and $10 billion, with adjusted EPS anticipated in the range of $1.60 to $1.85. Additionally, SpartanNash has increased its quarterly cash dividend to $0.22 per share, a 1.1% rise from the previous rate. The company continues to emphasize strategic initiatives, including cost leadership and expansion in ethnic stores. Despite these positive developments, SpartanNash’s stock experienced a slight decline in premarket trading, reflecting cautious investor sentiment.

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