SpartanNash Company (NASDAQ:SPTN) Q3 2018 Earnings Conference Call Transcript
Nov 08, 2018 • 08:00 am ET
Good morning. Welcome to the SpartanNash Company Third Quarter 2018 Earnings Call. All participants will be in listen-only mode. (Operator Instructions) Please note, this event is being recorded.
I would now like to turn the conference over to Katie Turner for opening remarks. Please go ahead.
Katie M. Turner
Thank you, Debbie. Good morning, and welcome to the SpartanNash Company's Third Quarter Fiscal 2018 Earnings Conference Call. On the call today from the company are Dave Staples, President and Chief Executive Officer, and Mark Shamber, Executive Vice President and Chief Financial Officer.
By now, everyone should have access to the earnings release, which was issued yesterday at approximately 4 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.
(Forward-Looking Cautionary 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 close yesterday.
And now it's my pleasure to turn the call over to Dave.
David M. Staples
Good morning, everyone, and thank you for joining us today. Our call will include an update on our business, as well as my brief overview of the third quarter. Mark will then provide additional detail on our operating and financial results before we open the call for your questions.
I would like to begin the call by just saying how proud I am of the team's commitment to our long-term strategy. We are taking action to become a growth company that is focused on developing a national, highly efficient distribution platform that services a diverse customer base by leveraging our complementary business segments of food distribution, military distribution and retail.
During the quarter we continued to make progress towards achieving elements of our strategy related to increasing supply chain efficiencies and mitigating cost pressures, including hiring drivers and expanding and diversifying our fleet to take more of our freight in house and control rising freight costs. Additionally, we identified and began implementing opportunities to increase the capability and reach of our supply chain, including steps to better serve both the East and West Coast.
On the manufacturing front, we remain focused on improving the efficiency of our food processing operations and have seen some improvements during this latest quarter. We expect to see continued improvement as we are able to adjust to the incremental volume added in the Fresh Kitchen operations and develop a more experienced workforce.
In the retail segment we remain pleased with our customers' positive response to our new brand positioning and have recently relaunched 5 stores that feature these enhancements. Due to the rapid pace of change in our industry as well as the industry-wide labor and transportation headwinds and growth-driven challenges we currently