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.

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