1. SpartanNash has experienced a downturn with a double-digit decline, leading to a revised price target of $25/share from $30/share. 2. Despite recent earnings declines and increased leverage, SpartanNash remains fundamentally attractive with a nearly 5% dividend yield. 3. The company's growth strategy includes inorganic growth and efficiency improvements, though headwinds like labor costs and inflation persist. 4. The author maintains a 'Buy' rating for SpartanNash, given its current valuation and potential upside.