SpartanNash Company (NASDAQ:SPTN) Q4 2017 Earnings Conference Call Transcript
Feb 22, 2018 • 08:00 am ET
Good day, and welcome to the SpartanNash Company's Fourth Quarter 2017 Earnings Conference Call and Webcast. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Katie Turner. Please go ahead.
Thank you. Good morning, and welcome to the Spartan Company's fourth quarter and fiscal year 2017 earnings conference call. On the call today from the Company are Dave Staples, President and Chief Executive Officer; and Mark Shamber, Chief Financial Officer. By now, everyone should have access to the earnings release, which went out yesterday at approximately 4:05 p.m. Eastern Time. For a copy of the release, please visit SpartanNash's website at www.spartannash.com/investors. This call is being recorded, and a replay will be available on the Company's website for approximately 10 days.
Before we begin, we'd like to remind everyone 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 might involve significant risks and uncertainties. Actual results may differ materially from the results discussed in these forward-looking statements. Internal and external factors that may cause such differences include among others, competitive pressures amongst food, retail and distribution companies, the uncertainties inherent in implementing strategic plans and integrating (technical difficulty) and inquiry access and general economic and market conditions.
Additional information about the risk factors and the uncertainties associated with SpartanNash's forward-looking statements can be found in the Company's fourth quarter earnings release, annual report on Form 10-K and the Company's other filings with the SEC. Because of these risks and uncertainties, investors should not place undue reliance on any forward-looking statements. SpartanNash disclaims any intention or obligation to update or revise any forward-looking statements.
This presentation includes certain non-GAAP metrics and comparable period measures to provide investors with useful information about the Company's financial performance. A reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measure and other information as required by Regulation G is included in the Company's earnings release, which was issued after market yesterday.
And it's now my pleasure to turn the call over to Dave.
David M. Staples
Thank you, Katie. Good morning, everyone, and thank you for joining us today. The format of today's call will include my brief overview of the fourth quarter and fiscal year as well as an update on our business. Mark will then provide additional detail on our operating and financial results and guidance for fiscal 2018, before we open the call for your questions.
We were very encouraged with the cumulative effect of our operational and strategic initiatives, despite a challenging environment in food retail. Our fourth quarter net sales exceeded the prior year with topline growth of 5.3%. The increase in net sales was largely a result of contributions from Caito, an organic growth of 3.2% in food distribution, demonstrating our ability to both expand our