GRAND RAPIDS, Mich. — Spartan Stores here was recently recognized by Forbes magazine in its annual "America’s 100 Most Trustworthy Companies" list, in which the magazine identifies what it considers the most transparent and trustworthy businesses that trade on American exchanges.
Forbes used GMI Ratings (GMI), a financial analysis firm, to identify the companies that consistently demonstrated transparent and conservative accounting practices and solid corporate governance and management. GMI examined more than 8,000 companies traded on U.S. exchanges with a market capitalization of $250 million or higher.
Spartan was grouped on the list under the small-cap category. It was the only retailer on the list other than Casey’s General Store and PriceSmart.
More news: Spartan Reports Slower Sales in Q3
“We are pleased to receive this distinction by Forbes as one of America’s Most Trustworthy Companies,” said Dennis Eidson, Spartan’s president and chief executive officer, in a statement. “We are committed to being transparent with all of our customers, shareholders, and business partners while continuing to operate the business based on our core principles of honesty and integrity.”
Spartan Stores distributes more than 40,000 private and national brand products to approximately 390 independent grocery locations in Michigan, Indiana and Ohio, and to the company's 101 corporate stores located in Michigan, including Family Fare Supermarkets, Glen's Markets, D&W Fresh Markets, VG's Food and Pharmacy, and Valu Land.
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