Skip navigation

Smart & Final, nearing IPO, reports Q2 sales up

Smart & Final said sales and profits improved during the fiscal second quarter, citing contributions from new stores and comparable-store sales driven by increases in store visits and basket size.

The retailer detailed the quarterly results in an amended registration statement filed late last week with federal securities regulators. As reported previously, Smart & Final is seeking to raise up to $100 million in a public stock offering. It is controlled by private investor Ares Management, which acquired the chain in 2012.

Net sales for the 12 weeks ended June 15 increased 9.5% to $72.1 million, Smart & Final said. The company said the increase was attributable to comparable store sales growth of 6.3% during the quarter, as well as 11 new stores since the same period last June. Comp increases consisted of a 3.8% increase in transactions and a 2.5% increase in average transaction size.


Follow @SN_News for updates throughout the day.

Comps at the Smart & Final banner, including its larger format, perishable-focused Extra! stores, increased by 4.9% during the quarter, while Cash & Carry stores geared toward business customers saw comps improve by 6.6%.

Gross margin as a percent of sales increased by 0.5% to 15.5%, and net income increased by 165.7% to $13.6 million.

Smart & Final is led by CEO David Hirz, a former president of Kroger’s Food 4 Less and Ralphs divisions. His team includes former Kroger executives Scott Drew, Michael Laddon and Michael Mortensen. The company said it intended to use proceeds from its IPO for debt repayment and general corporate purposes. It expects to grow through continued development of the Extra! format through new store openings, conversions and relocations.

Suggested Categories More from Supermarketnews


TAGS: News
Hide comments


  • Allowed HTML tags: <em> <strong> <blockquote> <br> <p>

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.