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Grocery wholesaler SpartanNash has a new account – Amazon.com – that has its management and shareholders pumped up. SpartanNash’s share price jumped nearly six percent yesterday as news spread that the company is supplying Amazon in the e-tailer's push to become a major force in the grocery business.
According to an earnings call with analysts last week, SpartanNash is currently supplying Amazon with dry and chilled items for its Prime program. Early success with SpartanNash has led Amazon to explore expanding its relationship with the wholesaler for products sold as part of its AmazonFresh initiative, as well.
SpartanNash COO Dave Staples (via Seeking Alpha) called Amazon “a relatively new account” and said “volume has been greater than we expected and we believe that it has significant growth potential.”