Supervalu CEO Pleased With Fourth-Quarter Results
Friday, April 25, 2014 at 8:59AM April 23, 2014
Things are looking good for Supervalu, which reported fourth quarter fiscal 2014 net sales of $4 billion, up 1.4%, and net earnings of $26 million, or $0.10 per diluted share.
"Fiscal 2014 was an important transition year for Supervalu as we stabilized the organization and set the foundation for our future," stated Sam Duncan, Supervalu president and CEO. "I am pleased with the direction of our business segments and look forward to the new fiscal year where we can focus our attention on driving sales growth across the organization."
Identical store sales in the retail food segment were positive 0.2%. Identical store sales in the Save-A-Lot network were positive 2.1%. Identical store sales for corporate stores within the Save-A-Lot network were positive 3.5%.
Total sales within the independent business segment decreased 0.6% primarily due to the continued impact of losing two large customers and lower military sales partially offset by net new business.
Source: Retailing Today
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