The 2020 Mid-Year Economic Update_long

Supervalu’s Sales Up 30%

Grocery wholesaler sells eight distribution centers, pursues sale of Shop n Save and Shop n Save East retail operations.

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.

 

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.