Spartan Stores Set to Expand

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Spartan Stores Set to Expand

08/18/2008
GRAND RAPIDS, Mich. -- In an effort to reach a projected $3.2 billion in sales by 2010, Spartan Stores Inc. plans to relocate or build up to 10 stores in the next three years, according to The Grand Rapids Press.

Dennis Eidson, Spartan Store’s president, told the paper that while a timeline has not been determined, the slated construction includes the flagship store at Michigan Street NE and Fuller Avenue. Eidson also noted his position will soon change.

"Dennis and I have been on this journey for our five years. It’s time for me to hand the reins of the CEO’s responsibilities to him. I’m very proud to do it," Craig Sturken, current Spartan Stores CEO and board chairman, told the paper.

Moving forward, Eidson said the two will work as a team. "We have kind of been connected at the hip for about 11 years, Eidson told the paper. "I complete the sentences he starts and vice versa. We have the same strategic vision."

As part of the build out, Eidson explained the company will add 15 fuel centers as part of the initiative. In 2008, Spartan Stores invested $40.1 million, including $8.4 million in its retail operation and $31.7 million in distribution side. Return on capital investment made in the past three fiscal years has yielded about 10 percent, the paper reported.