-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, TmOpR+lerFjsl2sJ/ndrNnw8nHHRlmF8GvlVpBh3esman8pmFiPv2utDtRZ1NiyV nIls814k06dKwqTj+oT+WQ== 0000905729-10-000001.txt : 20100105 0000905729-10-000001.hdr.sgml : 20100105 20100105090523 ACCESSION NUMBER: 0000905729-10-000001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 3 CONFORMED PERIOD OF REPORT: 20100105 ITEM INFORMATION: Regulation FD Disclosure ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20100105 DATE AS OF CHANGE: 20100105 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SPARTAN STORES INC CENTRAL INDEX KEY: 0000877422 STANDARD INDUSTRIAL CLASSIFICATION: WHOLESALE-GROCERIES & GENERAL LINE [5141] IRS NUMBER: 380593940 STATE OF INCORPORATION: MI FISCAL YEAR END: 0329 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 000-31127 FILM NUMBER: 10504413 BUSINESS ADDRESS: STREET 1: 850 76TH ST SW STREET 2: P O BOX 8700 CITY: GRAND RAPIDS STATE: MI ZIP: 49518 BUSINESS PHONE: 6168782000 MAIL ADDRESS: STREET 1: 850 76TH ST SW STREET 2: PO BOX 8700 CITY: GRAND RAPIDS STATE: MI ZIP: 49518 8-K 1 sptnst8k_010510.htm SPARTAN STORES FORM 8-K Spartan Stores Form 8-K - 01-05-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  January 5, 2010

SPARTAN STORES, INC.
(Exact Name of Registrant as
Specified in Charter)

 

Michigan
(State or other jurisdiction
of incorporation)

000-31127
(Commission
File Number)

38-0593940
(IRS Employer
Identification no.)

 

850 76th Street, S.W.
P.O. Box 8700
Grand Rapids, Michigan

(Address of principal executive offices)

 


49518-8700
(Zip Code)

 

Registrant's telephone number,
including area code:  (616) 878-2000


Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

o  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425).

o  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12).

o  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)).

o  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)).










Item 7.01.

Regulation FD Disclosure.

          On January 5, 2010, Spartan Stores, Inc. issued the press release attached to this Form 8-K as Exhibit 99.1. The information contained in this Current Report on Form 8-K (including Exhibit 99.1 referenced herein) is being furnished and is not "filed" with the Securities and Exchange Commission and is not incorporated by reference into any registration statement under the Securities Act of 1933.

          The press release contains forward-looking statements within the meaning of the Securities Act and the Exchange Act and, as such, may involve known and unknown risks, uncertainties and assumptions. These forward-looking statements relate to Spartan Stores' current expectations and are subject to the limitations and qualifications set forth in the press release as well as in Spartan Stores' other documents filed with the SEC, including, without limitation, that actual events and/or results may differ materially from those projected in such forward-looking statements.

Item 9.01.

Financial Statements and Exhibits.

     
 

(d)

Exhibits: The following document is attached as an exhibit to this report on Form 8-K:

     
 

99.1

Press Release dated January 5, 2010.











- -2-


SIGNATURES

                    Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.


Date:  January 5, 2010

SPARTAN STORES, INC.

   
   
   
 

By

/s/ David M. Staples
   

David M. Staples
Executive Vice President and Chief Financial
Officer















- -3-


EXHIBIT INDEX

Exhibit
Number

 


Document

     

99.1

 

Press Release dated January 5, 2010.













- -4-


EX-99.1 2 sptnstex991_010510.htm SPARTAN STORES EXHIBIT 99.1 TO FORM 8-K Spartan Stores Exhibit 99.1 to Form 8-K - 01/05/10

EXHIBIT 99.1


For Immediate Release

 

 

 

Investor Contact: Dave Staples
Executive Vice President & CFO
(616) 878-8793

Media Contact: Jeanne Norcross
Vice President Corporate Affairs
(616) 878-2830

Spartan Stores Continues Supply Chain Optimization Strategy

Company Plans to Operate All Supply Chain Activity from its
Grand Rapids, Michigan Distribution Center;
Plans to Reduce Administrative Operating Costs;
Comments on Recent Market and Sales Trends

GRAND RAPIDS, MICHIGAN-January 5, 2010- As part of its ongoing distribution network optimization efforts, Spartan Stores, Inc., (Nasdaq:SPTN) today announced that it plans to operate all supply chain activities from its Grand Rapids, Michigan distribution center.

Part of the optimization strategy includes the potential closure of the Company's 415,000 sq. ft. Plymouth, Michigan dry grocery warehouse by the end of its fiscal 2010 fourth quarter. The Plymouth warehouse operating lease is set to expire in October 2010 and the Company's current collective bargaining agreement with employees at the facility will expire in April 2010. The Company intends to promptly engage in negotiations with the Teamsters Local 337, which represents the approximately 140 Plymouth, Michigan facility bargaining unit employees, prior to making a final decision on closing the Plymouth facility. As part of the negotiations, the Company expects to offer employment opportunities for Plymouth Teamster employees at its Grand Rapids, Michigan distribution center. In conjunction with the warehouse optimization, the Company will implement an administrative cost reduction initiative.

These initiatives are expected to improve the distribution segment's operational efficiency by increasing inventory turns, warehouse thru-put and capacity utilization, while reducing administrative expenses and inventory investment requirements. If the closing and optimization of the warehouse facility are implemented, along with the administrative cost reduction initiative, the Company expects to incur a fiscal 2010 fourth-quarter net after tax charge of approximately $1.5 to $2.0 million for severance, warehouse and asset impairment costs. The Company also expects to incur a fiscal 2011 first-quarter net after tax benefit of approximately $0.2 to $0.6 million for a favorable LIFO benefit due to inventory reductions net of lease termination and additional distribution center closing costs that are anticipated to occur during the quarter. Excluding the previously mentioned charges, annualized after tax cost savings from these initiatives are expected to range from approximately $2.0 million to $3.0 millio n.




"This is another important step in our ongoing strategy of continuously improving efficiency and lowering costs in our operations," said Dennis Eidson, Spartan's President and Chief Executive Officer. "During the past several years, we have prudently invested capital to upgrade our distribution system technology, expand our produce ripening operations, upgrade our entire fleet of trucks, and just recently completed a major warehouse re-racking project at our Grand Rapids grocery distribution facility that significantly increased warehouse capacity and improved space utilization. These investments have significantly improved our dock scheduling, traffic management, inbound freight and transportation routing system.

"The optimization of our distribution facilities and the current economic conditions provided us with an opportunity to restructure certain aspects of our organization," said Mr. Eidson. "As such, we will be able to eliminate a number of administrative positions. Collectively, these initiatives will strengthen our competitive position and help ensure that we continue to remain the low cost supplier in our markets for many years to come."

Mr. Eidson continued, "As previously disclosed, we expected the near-term economic climate in Michigan to continue weakening and pressure our sales and earnings performance as the year progressed. Based on our current view of market trends and Michigan's nation leading unemployment rate of nearly 15 percent, these expectations are materializing. The economic climate in Michigan remains challenging due to the persistent high unemployment rate and tightening consumer spending patterns. In addition, we continue to experience price deflation in some high volume product categories, pricing pressure in fuel and heightened competition in certain markets due to new store openings. Consequently, we now expect comparable store sales to be in the negative mid-single digit range for the third and fourth quarters compared with our previous expectation of a decline in the low-to-mid single digit range. We also now expect a commensurate sales decline in our distribution segment, excluding the elimination effect on distr ibution sales related to our VG's acquisition. Profitability in the third and fourth quarters will be affected by these circumstances and we now expect fiscal 2010's third quarter earnings per share to range between $0.21 and $0.25."

About Spartan Stores

Grand Rapids, Michigan-based Spartan Stores, Inc., (Nasdaq:SPTN) is the nation's eleventh largest grocery distributor with warehouse facilities in Grand Rapids and Plymouth, Michigan. The Company distributes more than 40,000 private-label and national brand products to approximately 350 independent grocery stores in Michigan, Indiana and Ohio. Spartan Stores also owns and operates 97 retail supermarkets in Michigan, including Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, Felpausch Food Centers and VG's Food and Pharmacy.

Forward-Looking Statements

This press release contains forward-looking statements. Forward-looking statements are identifiable by words or phrases such as "forecast", "initiative", "opportunity", "potential", or "strategy"; that an event or trend "could", or "will" occur or "continue" or is "likely" or "ongoing" or that Spartan Stores or its management "expects", "intends" or "plans" a particular result. These forward-looking statements are subject to a number of factors that could cause


2


actual results to differ materially. Our ability to successfully implement plans, programs, initiatives and strategies, realize expected benefits of efficiency improvements, negotiate with acceptable results, anticipate and successfully respond to openings of competitors' stores and achieve expected sales and earnings, is not certain and depends on many factors, not all of which are in our control. Market and economic trends, unemployment rates and commodity prices, which are not within our control, have a significant effect on our business and financial results. Additional information about the factors that may adversely affect these forward-looking statements is contained in Spartan Stores' reports and filings with the Securities and Exchange Commission. Other risk factors exist and new risk factors may emerge at any time. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as predictions of future results. Spartan Stores undertakes no obligation to update or revise any forward-looking statements to reflect developments or information obtained after the date of this press release.














3

GRAPHIC 4 image118.gif GRAPHIC begin 644 image118.gif M1TE&.#=A2@&)`+,``/___[_*R'^6DC]B6QM1(P`N)3=T(E*7(&Z['T\`1%,` M5W,`7',`>64`=#L`;3H`0R'Y!``!````+`````!*`8D`0`C_``$('$BPH,&# M"!,J7%@P0``!$"$.F#B`@$4"!3)JW,@QXT6+%`=$A.@P`,.3*%.J7,FRI-!`P<0,"SI\^?0(,*'4JTJ-&C1@\H-7#QIM.G4$&*%%!RIM6K M6`TZE&C3*8&6`3H:&'J@*]2S:-.J7//JM6O`XT(! M&W?^-/O68\B*A1,K7HQV@$'`C"-+GDRYLF`$!S0:Q#FX\,$!B0>4W+I1-$+( M:$TJ?`A:+=71J#52+=CZ:\/1#EMS%,`P@&ZTKTNB)J#Z8.S*R)-?SIQ1(&J? MS!7S3NC;[72"C3]+?^ST>L'C-VT3_R3,V/%WI\4%AH5JGN#OY/`5+]>XOH!/ M\LA-,R30.\]M6"`:^FG58$'`H!>0V@9U&!\ M'+(U'TB50?B%!R-[6@&WV4T`)NB4AB+VZ&%/ MT6D4XF(5GE3=4R;2=]"1V1F)T8$Z9E0A>"W^U9&)"%7G8D<'G65BE#Z&V=&0 M&9$I9EHFQGCFFFT1<)E0Y/W$YIR4F6DFG7CFR=B;"*@)%5%];>1F467=]&:@ M8_T4:)E$!=D1`81.9B>0>E9JJ62)%A6G3V/ZM&A47L MLT@I=0!3%K$Y**&KDJJJ@GP&%>.A:9TJ5*$^RH`87TS"'I:6"&SD78:[U*X_`Z5&VZE2I.+-"CR0J6X6Q M6P%TP[P-VE!M#>L*"!&WEE,%ZDWUVPL,JCL8.Z^4T#$$S.`-E_A!Z)"'A`VT M3PE392ORF,LL0'104%8%1?-]34'$>@NNVI/$Q#E()WB1&_)XUC:J!<5JU6(B M`OFT*-.5T5VV@F'I@J>T/JI$7_Q26TZFYD9"M>UJ6*/3OSH81H]`#CON&N$C M_4C)2IY,7Q*I2!%]1`#4864CD[2D*$=)RE*:LB%0SZE3=IL9Z7@T>L?F M"*0V,DQ,EK;3$,EQ[U%IJ5#Q"O#(`*AIH;X+:I=V9)R4WDBC#TWBNA@C4P21 M;C=/K1*&%(,_K`+003.JC/^^M]41B0^JY4O6`"FC.['Q+JLEW6=XJGI2ITK/ M=_]A->A*AE?7_YVUH2'"::_$U$FWE@BN^2OKBKZZV+X^*J\*A6SWFCH_Q&9D MK(EU#TTQ:$818:DTEB4K0G&R5*TZ5D&2!2OV_+I:TRZ,(YAEJF;16M`:KH4W M*$V-8F<8VLR]5DI=[4YH,[J]O[ZUMXTU7.-&:];9`G:M#(.N1&%2//>)9&1# M+=U,J&0BAHIV23T M)GN%X]T9TC>6]KTG3K8&S_NB5XDU-2!R:>K-BS*X+9Q%6X7Z^V`6'H6"+:SP M6R*LX0VJJXB#R:^#XJBQG!QUDP*6%'1MVV'!F8M<:P'_E(6C!48@D>V+-WZC MMHJB1[=\J"LL;K'@$S+C1LRX-;-G!`Y<&F_" MSB]FI-/C4B%/YJ7,H!"T487Q:.$$$NE4HY&>EG8;/??23!(_,,7P,;#O;%V8 MB+)K82S6)ED676*BA>2_R/[O8?B%ZV4MLM3.*N:>*:/-()DLTL(NLH-XZG+=L\6=4DJ:5ZPD?1M=NG_':Q.3;K>N<%QC@Q*:OY*:S" MPOO?,\-D(/VVMEC##9>\1HN_8>(KPKP;X!"/^"]Q@\ED4YQE^Y.XQC?.\9-< MMN,@#[G(2_GMA.O)V-&LRLA7+G&<5=C8K&2YS&.VK]AUC9#V9N8M$4[PE.M[ MYD!7#X4M(L^<&]V>)H<@S*49])1M9>#ZI"[IADFUM_T,D4&[.MLH;?1Q37H]J[K_.O-_B<;WZXHWZJD0>VLO6&/"3/$_-ZAOPF7F6F MO?"7V/N$_*9;P1_^>P\S>.77*:T#9;>4O<3'X#ZXN\Z?%4?S*J[IA^?G0B9N M]O.T?$@%YA9)Z45].5_&;@;#[&`#"A;$\(16))=(>A^4G51U`&"E64[K,5< MA9$B,0(Y$[A^BI$BJD-9?*5SI50 MK=,:IS)W^F94B;AON@6(W0%,U<6'YC53A=%6"'&&"!(^EQB(Y3.("KA>)M4@ M!Q17HN@1(W4TIP5:N2@C>JA4^1):Y<4EO_^X9N7S.E/T3+L(A0OV:XAH($L" M'M8#C*BH<*DE7&9(@2I"B5SHA$UX8-&AB8$F(L1Q&KZHB,W5BT7"4-5XBFB( MC<%X7,?H/=[8BSH7=E8C):XD40I:MYWE%IQ,9YDAQDIC:9X.8@A MB<9'DY&S%O.'$U[U-2$VP8@TL5P(N9,&N8\(YBY?69(L03KN`X:'Z#ET&)-[ MDX25(WK%.(E2>9/_Q&&1H8I90F&!22!M9>359=9.)FD)8J,>26F M.(7IU9*64I;LMYIFMI=?YIJRHIJL.9L_2F:F7WB9F>T>1:063`5,H!, MI':Z\F1X1IN_22LH1Q'#1S;-U#$8-EBSF9R]62E\$CMTIGS469UX(BX@-A0P M1'5.U&7CA!/@(BC=,GMBP6;)!V$L>9O*0WAN9#P/*?:%&<-&21%^HW@1=F3J9JOIE3?`)G/5%F;V*?Q9EK M5&:A*YHGH#:A'WJ<07HL`!IG.6JA1EB5&GJX:IF0H?`@.F(!)B M!'.@.-=HH@JE=G%J7]4V*W>A)AWT*426H`35+Y;G M:?Q$H'66C')HE+[S:L.*>\5JCF[B-L3F+VSG%;+G)Q-T-3V4GNKI$0U:*SDZ M(,`:%=AZ;^6V=\Z6=9Y7;]+6JA0:1MYCK?%J2/1Z:\\63OFJKZ+60`#)EPH5 M>`&K(+L4'"J(%7B',?L7B>+VK&D4=]SY8GA96G?RH^DJ.KPH<@+7L".VFP2K M1BW&3@FC$`FF=F5&ETWW$H#$33>'K_.*0.+Y1H012F5T8^HIF3-[211EL@%& M;]EZ<)FGI$I:>7
-----END PRIVACY-ENHANCED MESSAGE-----