Supervalu’s renewed focus on driving sales and cash in all segments of its business seem to be paying off. The company has been working toward turning identical sales positive and posted net sales of $3.95 billion for the second quarter ended Sept. 7, up 0.2% from $3.94 billion for the prior-year quarter.
“Similar to what we outlined in the first quarter, we remain focused on delivering steady improvements in our business each and every quarter,” said president and CEO Sam Duncan. “While our end goal won’t be achieved overnight, I am encouraged with our results this quarter and, more importantly, the way we are achieving these results by building a strong foundation that is focused on our customers.”
Identical store sales in the Save-A-Lot network were negative 0.3%. Identical store sales for corporate stores within the Save-A-Lot network were positive 4.6%. Identical store sales in the retail food segment were negative 0.9%.
On Jan. 10, the company announced it had reached a definitive agreement for the sale of five retail grocery banners — Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market. This transaction was completed on March 21.