The 2020 Mid-Year Economic Update_long

SUPERVALU Sales Down 3.9% in Fiscal 1Q

Wholesale and retail sales decreased, while Save-A-Lot sales increased.

SUPERVALU Inc. (NYSE: SVU), Minneapolis, MN, reported sales for the fiscal first quarter ended June 18, of $5.2 billion, a decrease of 3.9 percent year-over-year. Profit decreased 24.6 percent to $46 million. 

“We’re making great progress in growing our business as evidenced by our recent business announcements regarding our agreement with Marsh Supermarkets and our agreement to acquire 22 Food Lion grocery stores,” said President & CEO Mark Gross. “We’re also seeing great success in growing our wholesale produce business, and I believe we’ll sell more produce to our wholesale customers this fiscal year than our wholesale business has sold before.”

First quarter wholesale business sales decreased 7.6 percent to $2.3 billion compared to the prior year quarter, Save-A-Lot sales increased 1.7 percent to $1.4 billion and retail sales decreased 2.9 percent to $1.4 billion.

About the Author
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

By subscribing, you are agreeing to MDM’s Privacy Policy.

0

articles left

This is your last free article

Subscribe to MDM Premium today and get:

  • Unlimited access to MDM.com
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events

2

articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to mdm.com, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

1

article
left

You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on mdm.com
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.