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Supplement dated June 20, 1997 filed pursuant to Rule 424(b)(3)
(to Prospectus dated July 28, 1996) File No. 33-94496
SPARTAN STORES, INC.
350,000 CLASS A COMMON STOCK
$20 PAR VALUE
SUPPLEMENT TO
PROSPECTUS DATED JULY 28, 1996
The Board of Directors of Spartan Stores, Inc. has established
the Trading Value for each Class A Share to be One Hundred Thirteen Dollars
($113) per share. The new Trading Value will be effective as of June 22,
1997.
In determining the Trading Value, the Board considered general
market and economic factors and the Company's unaudited financial condition
as of the end of its fiscal year and unaudited results of operations for
the fiscal year. The Company's net sales for the year were $2.475 billion
and the Company had net earnings of approximately $9.7 million, or $7.99
per share, compared to net sales of $2.555 billion and a net loss of
approximately $21.7 million for the prior fiscal year, or $17.42 per share.
In addition, book value per share increased from approximately $82.33 at
March 30, 1996, to approximately $89.14 at March 29, 1997.
On May 28, 1997, the Board of Directors authorized a ten-for-one
stock split pursuant to a share dividend payable to shareholders of record
of Class A Shares on May 31, 1997, pending shareholder approval of an
amendment to Article III of the Company's Restated Articles of
Incorporation to increase the Company's authorized capital stock from Two
Million (2,000,000) Class A Shares to Twenty Million (20,000,000) Class A
Shares and from Five Hundred Thousand (500,000) Class B Shares to Five
Million (5,000,000) Class B Shares (the "Amendment"). The Amendment also
would decrease the par value of the Class A Shares from $20 per share to $2
per share. As amended, the first sentence of Article III would read as
follows:
The total authorized capital stock of the corporation is Twenty
Million (20,000,000) shares of Class A common stock with the par
value of $2 per share and Five Million (5,000,000) shares of
Class B common stock.
If the Company's shareholders approve the Amendment at the Annual
Meeting of Shareholders to be held on July 15, 1997, the Company will
effect the stock split by paying a dividend of nine Class A Shares for each
Class A Share held of record on May 31, 1997. The payment date for the
share dividend will be as soon as reasonably practicable following the
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shareholders' approval of the Amendment and the effective date of the
filing of the Certificate of Amendment with the Michigan Department of
Consumer and Industry Services, Corporation, Securities and Land
Development Bureau. As a result of the stock split, the Trading Value of
Class A Shares would become $11.30 per share.
