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Smart & Final Stores, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q1 FY2019 10-Q, filed May 3, 2019. Its latest SEC filing is a 15-12B from Jul 1, 2019.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Sells groceries and foodservice supplies through Smart & Final and Smart Foodservice stores to household shoppers and business customers, including restaurants and caterers.

How Did They Make Money?

Customers pay for products at the point of sale; gift-card proceeds are counted as sales when customers redeem the cards.

FY2018 revenue

Who Were Their Customers?

Households and business buyers shop at Smart & Final; restaurants, caterers and other foodservice businesses primarily shop at Smart Foodservice. Customers shop in stores, get delivery through partner services, or order online for pickup.

Did Revenues Turn Into Profits?

Not on paper. It lost $112.2M in FY2018, but brought in more cash than it spent: $25M of free cash flow.

Operating income, FY2018
−1% of revenue
▼ −54% (Loss) vs FY2017 (−$127.4M, −3%)
Net income, FY2018
−2% of revenue
▼ −19% (Loss) vs FY2017 (−$138.9M, −3%)
Free cash flow, FY2018
1% of revenue
▲ +24% vs FY2017 ($20.1M, 0%)

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q1 FY2019, the three months to Mar 24, 2019
Revenue
▲ +3%
vs $1B in Q1 FY2018
Net income
▼ −6% (Loss)
vs −$7.1M in Q1 FY2018
  • Jun 20, 2019 Apollo completed its acquisition of Smart & Final Smart & Final became a privately held subsidiary, and its shares ceased trading on the New York Stock Exchange.
  • May 1, 2019 Withdrew full-year guidance while the Apollo deal was pending The company said it would no longer provide fiscal-year guidance because of the pending transaction.

Grew. Revenue grew 34% in 4 years, from $3.5B in FY2014 to $4.7B in FY2018, about 8% a year.

Who Did They Compete With?

Competes with Albertson's/Safeway, Kroger, Costco, Aldi, Walmart, Target, Sysco, US Foods, Amazon, and Performance Food Group

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