SpartanNash (SPTN +14.9%) rallies after recording improvement in the company's food distribution segment in Q3 to offset a drop in the militray segment and making efficiency strides with its distribution platform.
Gross margin was 13.6% of sales vs. 13.5% consensus and 14.0% a year ago.
Operating expenses dropped to 12.% of sales from 24.4% a year ago due to to cycling a non-cash goodwill impairment charge and lower asset impairment and restructuring charges.
Previously: SpartanNash beats by $0.02, misses on revenue (Nov. 7)
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