SpartanNash (NASDAQ:SPTN) reported its Q1 results last week, with EPS of $0.83 beating the Street estimate of $0.61. Revenue was $2.76 billion, compared to the Street estimate of $2.69 billion.

The quarterly results were highlighted by cost reductions driven by supply-chain improvements, which included a record $76.6 million in adjusted EBITDA.

Management noted that consumers are making more trips to stores and spending slightly less. In addition, there is evidence of some consumer trade down as sales of private label are seeing twice the growth rate relative to non-private brands, which is coupled with an increase in loyalty customers making routine fill-in trips.

The company expects the full 2022-year EPS to range from $2.17 to $2.32, compared to the Street estimate of $2.11. Full-year revenue is expected in the range of $9-9.3 billion, compared to the Street estimate of $9.03 billion.