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SUPERVALU Inc. (NYSE: SVU), Minneapolis, MN, reported sales for its fiscal fourth quarter and full year ended February 24, 2018. Full-year sales increased 30 percent to $14.2 billion, and profit was $46 million. The company reported fourth-quarter sales of $3.6 billion, a 42 percent increase compared to the year-ago period. Fourth-quarter profit was $33 million.
Wholesale sales increased 60 percent to $2.87 billion, primarily due to sales from the acquired Unified Grocers and Associated Grocers of Florida businesses, as well as sales to new customers and increased sales to new stores operated by existing customers, the company said.
Supervalu said separately that it has entered into agreements to sell and lease back eight of its owned distribution centers, representing approximately 5.8 million square feet, to a single buyer for approximately $483 million.
The company also said it is pursuing the sale of its corporately owned and operated Shop ‘n Save (based in St. Louis) and Shop ‘n Save East (with stores in West Virginia, Maryland, Pennsylvania, and Virginia) retail operations.