Content about SuperValu Inc.

April 23, 2014

SuperValu Inc. swung to a profit in the fourth quarter of fiscal 2014 from a net loss in the fourth quarter of the prior fiscal year.

Minneapolis – SuperValu Inc. swung to a profit in the fourth quarter of fiscal 2014 from a net loss in the fourth quarter of the prior fiscal year. Net earnings were a better-than-expected $26 million, compared to a net loss of $1.41 billion a year earlier.

In addition, net sales rose 1.4% to $3.95 billion from $3.9 billion and same-store sales increased 3.5%. The substantial improvement in profits partially resulted from a significant decrease in charges and costs.

January 14, 2014

Supervalu Inc. said that it has named Gerald Storch, who served as CEO of Toys “R” Us from 2006 to 2013, as board chairman.

Minneapolis -- Supervalu Inc. said that it has named Gerald Storch, who served as CEO of Toys “R” Us from 2006 to 2013, as board chairman.

The supermarket company said Storch will replace Robert Miller, who is resigning as chairman in March to focus on “other demands.” Miller, then president and CEO of Albertsons, was named chairman last March after Supervalu completed the sale of five of its grocery chains.

October 17, 2013

Supervalu Inc. beat Wall Street estimates with second quarter fiscal 2014 net earnings of $40 million, compared to a $111 million loss in the year-ago period.

Minneapolis – Supervalu Inc. beat Wall Street estimates with second quarter fiscal 2014 net earnings of $40 million, compared to a $111 million loss in the year-ago period.

The supermarket operator reported net sales of $3.95 billion, up 0.2% from $3.94 billion last year.

Same-store sales results varied by banner. Same-store sales in the Save-A-Lot network were negative 0.3, while same-store sales for corporate stores within the Save-A-Lot network were positive 4.6% and were negative 0.9% in the Retail Food segment.

July 18, 2013

Supervalu Inc. reported a higher net loss and lower net income during the first quarter of fiscal 2014, compared to the first quarter of the prior fiscal year.

Minneapolis – Supervalu Inc. reported a higher net loss and lower net income during the first quarter of fiscal 2014, compared to the first quarter of the prior fiscal year. Net loss totaled $105 million, up from $18 million year earlier, although one-time after-tax charges of $139 million pushed Supervalu into the red. Net sales were $5.16 billion, a 1.5% drop from $5.24 billion a year earlier.

April 24, 2013
Supervalu Inc., which recently divested 877 supermarkets in a $3.3 billion transaction, reported Wednesday a loss of $179 million in the fourth quarter, widened from $42 million in the year-ago period.

New York -- Supervalu Inc., which recently divested 877 supermarkets in a $3.3 billion transaction, reported Wednesday a loss of $179 million in the fourth quarter, widened from $42 million in the year-ago period.    

January 29, 2013

Bloomberg reported Tuesday that Supervalu Inc. has set the rate it will pay on $2.4 billion of loans to fund the sale of five supermarket chains to a Cerberus Capital Management LP-led investor group.

Eden Prairie, Minn. -- Bloomberg reported Tuesday that Supervalu Inc. has set the rate it will pay on $2.4 billion of loans to fund the sale of five supermarket chains to a Cerberus Capital Management LP-led investor group.

A six-year, $1.5 billion term will pay interest at 5.75 percentage points more than the London interbank offered rate with a 1.25 percent minimum, reported Bloomberg, citing an unnamed source.

January 10, 2013

In the much-watched deal between Supervalu and a consortium of investors led by Cerberus Capital Management, Kimco Realty Group – along with several other real estate companies — has emerged as a player.

New Hyde Park, N.Y. — In the much-watched deal between Supervalu and a consortium of investors led by Cerberus Capital Management, Kimco Realty Group – along with several other real estate companies — has emerged as a player.

January 10, 2013

Supervalu Inc. announced that it has reached a deal to sell its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies to a private equity group in a transaction valued at $3.3 billion.

Minneapolis -- Supervalu Inc. announced Thursday that it has reached a deal to sell its Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores and related Osco and Sav-on in-store pharmacies to a private equity group in a transaction valued at $3.3 billion.

AB Acquisition, a consortium of investors led by Cerberus Capital Management, will get 877 stores across the various banners in the deal. The investor group also includes Kimco Realty Corp., Klaff Realty LP, Lubert-Adler Partners and Schottenstein Real Estate Group.

January 4, 2013

Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc., the Wall Street Journal reported.

New York -- Private equity firm Cerberus Capital Management LP and its partners are nearing an agreement to buy parts of Supervalu Inc., the Wall Street Journal reported.

Cerberus and its partners plan to buy some assets of the retail chain and take a stake in the remainder, which is expected to remain public, according to the report.

 

November 2, 2012

Supervalu Inc. is cutting 700 positions at its Shaw’s and Star Market divisions in New England.

New York -- Supervalu Inc. is cutting 700 positions at its Shaw’s and Star Market divisions in New England.

The company said Friday that the job cuts will take place in 169 Shaw's and Star Market stores.

 

October 18, 2012

Supervalu Inc. reported a loss of $111 for its second quarter, compared with net income of $60 million in the year-earlier quarter.

Minneapolis -- Supervalu Inc. on Thursday reported a loss of $111 for its second quarter, compared with net income of $60 million in the year-earlier quarter.

Revenue fell 4.6% to $8.04 billion in the quarter ended Sept. 8, from $8.43 billion in the year-earlier quarter. The decrease in net sales was blamed on both a decline in identical store sales and the sale of a majority of the company’s gas stations, which had contributed $158 million in revenue in the second quarter last year.

September 5, 2012

GE Capital, Corporate Retail Finance announced it is co-collateral agent on a $1.65 billion asset-based credit facility for Supervalu Inc.

Norwalk, Conn. -- GE Capital, Corporate Retail Finance announced it is co-collateral agent on a $1.65 billion asset-based credit facility for Supervalu Inc.

The loan will be used for working capital needs and to refinance existing debt. GE Capital Markets served as joint lead arranger and joint bookrunner.

“This financing will provide Supervalu with more financial flexibility as we execute our business turnaround.” said Sherry Smith, executive VP and CFO of Supervalu.

August 24, 2012

Advisors to Supervalu Inc. are asking potential buyers to bid for the entire operation, even as several suitors have inquired about individual parts of the U.S. grocery company, according to a report by Bloomberg News.

New York -- Advisors to Supervalu Inc. are asking potential buyers to bid for the entire operation, even as several suitors have inquired about individual parts of the U.S. grocery company, according to a report by Bloomberg News.

In July, Supervalu said it was looking at options for overhauling the company, including a sale. The chain hired Goldman Sachs Group Inc. and Greenhill & Co as advisors.
 

July 30, 2012

Supervalu Inc. said that its chairman Wayne Sales has been named president and CEO. He replaces Craig Herkert as CEO.

Minneapolis -- Supervalu Inc. said on Monday that its chairman Wayne Sales has been named president and CEO. He replaces Craig Herkert as CEO.

July 17, 2012

A report in the Wall Street Journal said that grocery supplier C&S Wholesale Grocers is said to be interested in buying the distribution business of Supervalu Inc.

Minneapolis -- A Monday report in the Wall Street Journal said that grocery supplier C&S Wholesale Grocers is said to be interested in buying the distribution business of Supervalu Inc.

On July 11, Supervalu – which owns such grocery banners as Albertson’s, Jewel-Osco and Save-A-Lot – revealed it would explore a sale of all or part of the company. It said it had hired Goldman Sachs and Greenhill & Co. to launch a review of strategic options, including asset sales.

July 12, 2012

Grocery giant Supervalu Inc. reported for the quarter ended June 16 plummeted 45% to $41 million, compared with $74 million in the year-ago period.

Minneapolis -- Grocery giant Supervalu Inc. reported Wednesday that profit for the quarter ended June 16 plummeted 45% to $41 million, compared with $74 million in the year-ago period. The struggling parent to Albertsons, Jewel-Osco and Save-A-Lot grocery banners, among others, had begun to show improvement in its fourth quarter, but tumbling revenues have halted the forward momentum.

Sales dropped to $10.59 billion, from $11.11 billion in the same period last year, and missed Wall Street’s forecasted $10.61 billion in revenue.

April 10, 2012

Supervalu Inc. reported that it swung to a loss of $424 million in the quarter ended Feb. 25, compared with a $95 million gain a year earlier.

Minneapolis -- Supervalu Inc. reported Tuesday that it swung to a loss of $424 million in the quarter ended Feb. 25, compared with a $95 million gain a year earlier. Results were negatively impacted by charges related to store closures and employee layoffs, but still beat Wall Street expectations.

January 25, 2012

SuperValu Inc. said it has named Michael Moore as executive VP and chief marketing officer.

Minneapolis -- SuperValu Inc. said Tuesday it has named Michael Moore as executive VP and chief marketing officer.

Moore, 47, joined the company in 2011 in the role of business transformation officer. He succeeds Julie Dexter Berg, who left the company to return to the West Coast.

Moore previously held a variety of executive leadership positions within customer business development at Procter & Gamble.
 

January 11, 2012

Supervalu Inc.'s fiscal third-quarter loss widened on larger write-down’s and weaker sales.

Minneapolis -- Supervalu Inc.'s fiscal third-quarter loss widened on larger write-down’s and weaker sales. The company reported a net loss of $750 million, including non-cash goodwill and intangible asset impairment charges of $800 million after-tax, from a loss of $202 million a year ago.

Supervalu said same-store sales fell 2.9% in the latest quarter. Net sales fell 4% to $8.33 billion, below analysts' average forecast of $8.42 billion.

November 30, 2010

SuperValu, which owns Albertson’s, said Tuesday that two Albertson’s locations in Santa Barbara, Calif., have achieved zero waste classification in their daily operations.

Santa Barbara, Calif. - SuperValu, which owns Albertson’s, said Tuesday that two Albertson’s locations in Santa Barbara, Calif., have achieved zero waste classification in their daily operations.

January 13, 2009

Supervalu Inc. said Wednesday that it has begun the previously announced closure of about 50...

October 14, 2008

Supervalu Inc. reported that its profit for its second quarter ended Sept. 6, fell 14%...

March 20, 2008

The vendor behind Cub Foods fingerprint-verification payment system has ceased operations, prompting Cub parent Supervalu...

January 28, 2008

Eden Prairie, Minn. Supervalu Inc. will close all five of its organic Sunflower Market stores,...

January 7, 2008

Eden Prairie, Minn. Supervalu Inc. said Tuesday its third-quarter profits rose almost 25%, but it...