- Spartan Stores, Inc. reported that consolidated net sales for fiscal 2003's 12-week second quarter decreased 5.3 percent to $796.7 million from $841.1 million in last year's second quarter. The overall sales decline was due to difficult economic and competitive climates, the under performance of the company's existing marketing program, and the closing of 10 stores that took place during the second quarter. The sales decline was partially offset by an improvement in the company's convenience store distribution segment sales.
Second-quarter retail sales declined 7.1 percent, with same-store sales declining 5.2 percent for the quarter; a sequential improvement over the adjusted (excluding the effect of an early Easter) 6.7 percent decline reported in the first quarter.
