Tag Archives: SUPERVALU INC.

Posted on by

SUPERVALU INC. announces the appointment of Anne Dament as SVP of Retail, Merchandising and Marketing

SUPERVALU INC. announces the appointment of Anne Dament as SVP of Retail, Merchandising and Marketing

 

MINNEAPOLIS, 2017-Jan-19 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today (Jan. 18, 2017) announced that Anne Dament has been named Senior Vice President of Retail, Merchandising and Marketing effective immediately. In this role, Dament will lead the Company’s retail banner operations, oversee the retail merchandising and marketing functions, and report to Mark Gross, SUPERVALU’s President and Chief Executive Officer.

Dament, a 25-year retail veteran who began her career at SUPERVALU, most recently served as Senior Vice President of Merchandising for Target Corporation where she oversaw food merchandising for its grocery business, including perishables, non-perishables, food service and private label brands.

“I’m thrilled that Anne is joining our leadership team,” said Mark Gross. “As we focus on improving our retail store performance, Anne’s experience across varied retail and merchandising disciplines should prove extremely beneficial. Anne is a dynamic, collaborative leader with great experience building and leading high performing teams through transformation and change.”

“Returning to SUPERVALU provides a great opportunity to collaborate with grocery veterans I’ve respected throughout my career. Together, I’m looking forward to bringing a renewed energy to our retail banners,” said Dament.

Prior to joining Target, Dament spent seven years in senior level positions at PetSmart, including roles as Vice President of Merchandising Solutions and Vice President of Services. Dament’s retail career also includes 10 years in roles of increasing responsibility for Safeway where she held numerous category director positions, as well as the positions of Vice President, Business Unit General Manager, Homecare and General Merchandise; Group Vice President, Safeway.com; and Group Vice President, Perishable Strategy.

A native Minnesotan, Dament holds a marketing degree from St. Thomas University in St. Paul, Minn.

About SUPERVALU INC.

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $13 billion. SUPERVALU serves customers across the United States through a network of 2,067 stores composed of 1,850 stores operated by wholesale customers serviced primarily by the Company’s food distribution business, 195 traditional retail grocery stores operated under five retail banners, and 22 stores operated under the Shop ‘N Save name in Maryland, Pennsylvania, Virginia, and West Virginia (store counts as of December 3, 2016). Headquartered in Minnesota, SUPERVALU has approximately 30,000 employees. For more information about SUPERVALU visit www.supervalu.com.

INVESTOR CONTACT:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

MEDIA CONTACT:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Posted on by

SUPERVALU INC. to hold its fiscal 2017 3Q conference call on January 11, 2017

MINNEAPOLIS, 2017-Jan-04 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) will hold its fiscal 2017 third quarter conference call on Wednesday January 11, 2017 at 9:00 a.m. Central time. The call will be webcast live online at www.supervaluinvestors.com (click on microphone icon).

A replay of the conference call will be archived on SUPERVALU’s website under “Investors, Presentations and Webcasts.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $13 billion. SUPERVALU serves customers across the United States through a network of 2,012 stores composed of 1,815 stores operated by wholesale customers serviced primarily by the Company’s food distribution business and 197 traditional retail grocery stores operated under five retail banners (store counts as of September 10, 2016). In addition, the Company operates 22 stores under the Shop ‘N Save name in Maryland, Pennsylvania, Virginia and West Virginia. Headquartered in Minnesota, SUPERVALU has approximately 30,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Posted on by

SUPERVALU INC. lowers its outlook for full-year adjusted EBITDA

MINNEAPOLIS, 2016-Sep-09 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today (Sep. 8, 2016) announced that it is lowering its outlook for full-year adjusted EBITDA(1). Although recently announced new business in its Wholesale segment is expected to begin to positively contribute to results later this fiscal year, second quarter business performance in its Retail and Save-A-Lot segments has been softer than previously anticipated. Full year adjusted EBITDA(1) is now expected to be approximately 5.0% lower than last year.

Commenting on the outlook for fiscal 2017, President and CEO Mark Gross said, “Although we are seeing softness in portions of our business, I am excited and encouraged by the recent announcements pertaining to new customers for our core Wholesale segment and the opportunities that exist to further grow that business. In addition to the already announced two new large customers, we have recaptured some previously lost business from two other customers. We look forward to adding the volume from these new customers and do not expect any meaningful customer losses for the remainder of this fiscal year.”

The second quarter performance of the Company’s Retail segment has been impacted to a greater than anticipated degree by competitive openings and a challenging sales and operating environment for its stores. The second quarter performance of the Company’s Save-A-Lot segment has been impacted by deeper levels of deflation as well as lower levels of SNAP (supplemental nutrition assistance program) benefits compared to the first quarter. These factors affecting the Retail and Save-A-Lot segments are expected to impact the second half of the fiscal year as well. In addition, the second quarter performance at Save-A-Lot has been impacted by an aggressive rollout of store resets which is expected to benefit results at Save-A-Lot later in the year. The Company now expects the second quarter identical store sales percentage for its Retail stores and for Save-A-Lot’s store network will be lower than the first quarter identical store sales percentage. The Company’s second quarter ends September 10.

As previously announced, the Company will participate in the Goldman Sachs Global Retailing Conference in New York on Thursday, September 8, 2016 at approximately 11:20 a.m. (Eastern Time) and expects to address the Company’s outlook in more detail at that time. A live webcast of this event will be available through the SUPERVALU website at http://www.supervaluinvestors.com (click on microphone icon). A replay will be archived on SUPERVALU’s website by going to the “Investors” link and clicking on “Presentations and Webcasts.”

(1) The Company defines Adjusted EBITDA as Net earnings (loss) from continuing operations, plus Interest expense, net and Income tax provision (benefit), less Net earnings attributable to non-controlling interests calculated in accordance with GAAP, plus non-GAAP adjustments for Depreciation and amortization, LIFO charge (credit), certain employee-related costs and pension-related charges (including severance costs, pension settlement charges, multiemployer pension withdrawal charges, accelerated stock-based compensation charges and other items), certain non-cash asset impairment and other charges (including asset write-offs, store closures and market exits), certain gains and losses on the sale of property, goodwill and intangible asset impairment charges, costs related to the separation of businesses, legal settlement charges and gains, contract breakage costs and certain other non-cash charges or items as determined by management.

These items are omitted either because they are non-cash items or are items that are not considered in our supplemental assessment of our on-going business performance. Certain of these adjustments are considered in similar supplemental analyses by other companies, such as Depreciation and amortization, LIFO charge (credit) and certain other adjustments. Adjusted EBITDA is less disposed to variances in actual performance resulting from depreciation, amortization and other non-cash charges and credits, and more reflective of other factors that affect the Company’s underlying operating performance. There are significant limitations to using Adjusted EBITDA as a financial measure including, but not limited to, it not reflecting cash expenditures for capital assets or contractual commitments, changes in working capital, income taxes and debt service expenses that are recurring in the Company’s results of operations.

The adjustments for the Company’s first quarter fiscal 2017 include: net earnings attributable to non-controlling interests, $(1) million; income tax provision, $27 million; interest expense, net, $60 million; depreciation and amortization, $86 million; LIFO charge, $2 million; costs related to the potential separation of Save-A-Lot, $3 million; sales and use tax refund, $(2) million. The adjustment items occurring in the first quarter will continue for the balance of the fiscal year, with the exception of the sales and use tax refund. Additional non-cash or other adjustments not related to our on-going business performance may arise during the remainder of fiscal 2017. Adjustments for the Company’s fiscal 2017 second quarter are anticipated to include the following, a customer contract settlement gain, severance, impairment and employee benefit plan charges. For the second half of the year, the Company also anticipates a pension settlement charge. Each of the anticipated adjustments are preliminary and subject to change, and as a result, the Company is not currently able to provide guidance on Net earnings (loss) before continuing operations, which is the most comparable GAAP measure to Adjusted EBITDA.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,342 stores composed of 1,773 stores operated by wholesale customers serviced primarily by the Company’s food distribution business; 1,368 Save-A-Lot stores, of which 896 are operated by licensee owners; and 201 traditional retail grocery stores (store counts as of June 18, 2016). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “intends,” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including competition, ability to execute operations and initiatives, ability to realize benefits from acquisitions and dispositions, impact of exploration of possible separation of Save-A-Lot, reliance on wholesale customers and licensees ability to grow or maintain identical store sales, ability to maintain or increase margins, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s Inc., and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, commodity pricing, governmental regulation, food and drug safety issues, legal proceedings, pharmacy reimbursement and health care financing, intellectual property protection, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required,SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Posted on by

SUPERVALU INC. to present at Goldman Sachs Global Retailing Conference in New York City

MINNEAPOLIS, 2016-Sep-01 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) will participate in next week’s Goldman Sachs Global Retailing Conference in New York City. President and Chief Executive Officer Mark Gross and Executive Vice President, Chief Financial Officer and Chief Operating Officer Bruce Besanko will address investors at approximately 11:20 a.m. (Eastern Time) on Thursday, September 8, 2016.

A live webcast of this event will be available through the SUPERVALU website at http://www.supervaluinvestors.com (click on microphone icon). A replay will be archived on SUPERVALU’s website by going to the “Investors” link and clicking on “Presentations and Webcasts.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,342 stores composed of 1,773 stores operated by wholesale customers serviced primarily by the Company’s food distribution business; 1,368 Save-A-Lot stores, of which 896 are operated by licensee owners; and 201 traditional retail grocery stores (store counts as of June 18, 2016). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Investor Contact:
Steve Bloomquist
952-828-4144
steve.j.bloomquist@supervalu.com

Media Contact:
Jeff Swanson
952-903-1645
jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Posted on by

SUPERVALU INC. to serve as primary grocery wholesaler and professional services provider to Marsh Supermarkets

MINNEAPOLIS, 2016-Jul-06 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today announced it has entered into a long-term supply agreement with Indiana-based Marsh Supermarkets to serve as its primary grocery wholesaler and to provide certain professional services to the grocery chain. Founded in 1931 and headquartered in Indianapolis, Indiana, Marsh operates approximately 70 Marsh Supermarkets and O’Malia Food Markets across Indiana and Ohio, and 38 pharmacy locations.

“Marsh Supermarkets is a terrific grocery chain that has served customers and communities across Indiana and Ohio for 85 years,” said Mark Gross, SUPERVALU President and CEO. “Their shoppers have come to expect quality, value and a great fresh experience and we’re pleased Marsh has entrusted us for this business going forward. This is a wonderful opportunity for us to combine both our wholesale and logistics experience with our professional service offerings to deliver a comprehensive solution for them.”

In its role as primary wholesaler, SUPERVALU will supply all Marsh Supermarkets and O’Malia Food Markets with traditional product categories including produce, meat, deli, bakery, seafood, grocery, frozen foods and dairy. Additionally, Marsh customers will benefit from SUPERVALU’s comprehensive private brand offering, including its three popular grocery brands, Wild Harvest®, Culinary Circle®, and Essential Everyday®.

Additionally, SUPERVALU will provide certain professional services and merchandising support to Marsh, including advanced merchandise planning, strategic retail pricing analysis, and shelf management programs. Marsh will also benefit from SUPERVALU’s new SV Insights business intelligence tool and mobile order entry system.

“It’s great to see this growth in our wholesale business, and I’m also excited about what this means for the growth in our broad services offering,” Gross added.

The transition of stores is expected to be completed by approximately the end of September.

About Marsh

Marsh is an Indiana company that has served customers for 85 years. Marsh has over 5,000 associates and operates approximately 70 Marsh Supermarkets and O’Malia Food Markets in Indiana and Ohio, with 38 Indiana pharmacy locations.

About SUPERVALU INC.

SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion. SUPERVALU serves customers across the United States through a network of 3,588 stores composed of 1,796 independent stores serviced primarily by the Company’s food distribution business; 1,360 Save-A-Lot stores, of which 897 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of February 27, 2016). Headquartered in Minnesota, SUPERVALU has approximately 40,000 employees.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “anticipates,” “expects,” “projects,” “plans,” “intends” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including uncertainties as to the timing of the transition of the Marsh stores and the resulting business impacts of this new supply agreement. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Contact:

For Investors:
Steve Bloomquist, 952-828-4144
Steve.j.bloomquist@supervalu.com
or
For Media
Jeff Swanson, 952-903-1645
Jeffrey.s.swanson@supervalu.com

Source: SUPERVALU INC.

Posted on by

SUPERVALU INC. amended its existing $1.5 billion senior secured term loan agreement

MINNEAPOLIS, 2016-May-24 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today announced it has successfully completed the amendment of its existing $1.5 billion senior secured term loan agreement. On July 28, 2015, the Company announced that it is exploring a potential separation of its Save-A-Lot segment, and that as part of that process it had begun preparations to allow for a possible spin-off of Save-A-Lot into a stand-alone, publicly traded company. This amendment permits the Company and its subsidiaries to undertake certain transactions reasonably determined by the Company to be necessary to effectuate a spin-off of Save-A-Lot.

In the event a spin-off of Save-A-Lot is consummated, the amendment requires that Save-A-Lot issue a minimum of $400 millionof long-term debt and that SUPERVALU’s term loan balance be reduced by a minimum of $350 million (including with the net cash proceeds of the Save-A-Lot debt issuance). In addition, SUPERVALU would be required to retain at the time of a spin-off of Save-A-Lot a certain minimum equity stake in the spun-off, publicly traded Save-A-Lot company. In accordance with the terms of the amendment, the net cash proceeds from any future monetization of such retained equity stake could be required to be used to reduce the term loan balance.

“We are pleased to have been able to work with our term loan lenders to execute this amendment,” said Executive Vice President, Chief Operating Officer and Chief Financial Officer Bruce Besanko. “The Company now has the flexibility under its credit agreements to further explore the previously announced potential separation of Save-A-Lot into a stand-alone, publicly traded company.”

The amendment increases the interest rate margin above LIBOR from 3.50 percent to 4.50 percent (and up to 4.75 percent in the event of a downgrade of certain of the Company’s credit ratings), while the LIBOR floor remains at 1.00 percent. In addition, the amendment increases the Company’s flexibility to execute certain sale and leaseback transactions and acquisitions under the term loan agreement. The amendment also modifies certain covenants and other provisions set forth in the term loan agreement. The maturity date of the term loan remains March 21, 2019.

Goldman Sachs Bank USA and Barclays acted as joint lead book-runners and joint lead arrangers on the amendment.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,588 stores composed of 1,796 independent stores serviced primarily by the Company’s food distribution business; 1,360 Save-A-Lot stores, of which 897 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of February 27, 2016). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “expects,” “projects,” “plans,” “intends,” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including uncertainties as to the Company’s continued access to credit on acceptable terms, the sufficiency of short-term and long-term financing to support the Company’s strategic and operational investments, the terms, timing or structure of any Save-A-Lot separation transaction and whether one will be consummated at all, the impact of any separation transaction on the businesses of SUPERVALU and the Save-A-Lot business on a standalone basis if the separation were to be completed, whether the operational and strategic benefits of a separation can be achieved and whether the costs and expenses of the separation can be controlled within expectations. Other factors include competition, ability to execute operations and initiatives, ability to realize benefits from acquisitions and dispositions, reliance on wholesale customers and licensees ability to grow or maintain identical store sales, ability to maintain or increase margins, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s Inc., and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, commodity pricing, governmental regulation, food and drug safety issues, legal proceedings, pharmacy reimbursement and health care financing, intellectual property protection, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required,SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: SUPERVALU INC.

SUPERVALU INC.
For Investors:
Steve Bloomquist, 952-828-4144
Steve.j.bloomquist@supervalu.com
For Media
Jeff Swanson, 952-903-1645
Jeffrey.swanson@supervalu.com

Posted on by

SUPERVALU INC. extended its $1 Billion Asset-Based Revolving Credit Facility to February 3, 2021

MINNEAPOLIS, 2016-Feb-08 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) today announced it has completed the repricing, amendment and extension of its existing $1.0 billion asset-based revolving credit facility, which is secured by the Company’s inventory, credit card and certain other receivables and certain other assets. The amendment reduces the revolving credit facility’s rates on borrowings and letters of credit by 0.25 percent and the facility fees by 0.125 percent. Additionally, the maturity date of the revolving credit facility was extended by approximately sixteen months to February 3, 2021.

On July 28, 2015, the Company announced that it is exploring a potential separation of its Save-A-Lot segment, and that as part of that process it had begun preparations to allow for a possible spin-off of Save-A-Lot into a stand-alone, publicly traded company. This amendment permits the Company and its subsidiaries to undertake certain transactions reasonably determined by the Company to be necessary to effectuate a spin-off of Save-A-Lot. No specific timetable for a separation of Save-A-Lot has been set and there can be no assurance that a separation will be completed or that any other change in the Company’s overall structure or business model will occur.

This amendment also modifies certain representations and warranties, covenants and events of default set forth in the revolving credit facility, and provides for the adjustment of certain covenants in the event a spin-off of Save-A-Lot is consummated.

Wells Fargo, U.S. Bank, Rabobank and BMO Capital Markets acted as Joint Lead Arrangers and Joint Bookrunners on the amendment.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,407 stores composed of 1,871 independent stores serviced primarily by the Company’s food distribution business; 1,336 Save-A-Lot stores, of which 883 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of December 5, 2015). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “anticipates,” “expects,” “projects,” “plans,” “intends” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including uncertainties as to the Company’s continued access to credit on acceptable terms, the sufficiency of short-term and long-term financing to support the Company’s strategic and operational investments, the terms, timing or structure of any Save-A-Lot separation transaction and whether one will be consummated at all, the impact of any separation transaction on the businesses of SUPERVALU and the Save-A-Lot business on a standalone basis if the separation were to be completed, whether the operational and strategic benefits of a separation can be achieved and whether the costs and expenses of the separation can be controlled within expectations. Other factors include competition, ability to execute initiatives, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s, Inc. and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, governmental regulation, food and drug safety issues, legal proceedings, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: SUPERVALU INC.

SUPERVALU INC.
INVESTOR CONTACT:
Steve Bloomquist, 952-828-4144
steve.j.bloomquist@supervalu.com
MEDIA CONTACT:
Jeff Swanson, 952-903-1645
jeffrey.s.swanson@supervalu.com

Posted on by

SUPERVALU INC. announces the appointment of Mark Gross as its President and CEO

MINNEAPOLIS, 2016-Feb-08 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today announced the appointment of Mark Gross as the Company’s President and Chief Executive Officer, effective February 5, 2016. Gross, age 52, will succeed Sam Duncanwho has previously announced he will be retiring.

“Mark is a talented, strategic and results-driven leader with a wealth of industry experience,” said Jerry Storch, SUPERVALU’s Non-Executive Chairman of the Company’s Board of Directors. “We are extremely pleased that Mark will be leading SUPERVALU and we look forward to working with him to drive the Company’s performance.”

“I am thrilled to join SUPERVALU,” said Mark Gross. “I am delighted to have the opportunity to help take the Company to the next level and to work with the Board and management team to set the strategic path for the future. I look forward to working with our great customers and the talented group of employees in this Company, including working with Eric Claus as SUPERVALU continues to explore and prepare for a potential spin-off of Save-A-Lot.”

SUPERVALU also announced that Sam Duncan will be stepping down from the Company’s 11-person Board of Directors effective with his retirement on February 29, 2016, and that until that time, he will continue with the Company as a special advisor to the Company’s Board of Directors to facilitate a smooth transition. Gross will be appointed to the Board effective March 1, 2016. Additionally, the Company said that Bruce Besanko, Chief Operating Officer, will report to Gross and continue to oversee the day-to-day operations of the Company’s Independent Business and Retail Foodsegments as well as the Company’s finance organization.

“On behalf of the entire Board of Directors, I want to thank Sam for the tremendous job he has done these past three years,” Storch said. “He has built a terrific leadership team and together they have established a strong foundation and positioned the Company for future success. We wish Sam all the best in his retirement.”

“I am proud of all that we have accomplished these past three years and thankful for the opportunity I’ve had to lead this great Company,” said Sam Duncan. “SUPERVALU has tremendous employees, customers and licensees and I leave here knowing the Company is in good hands with a strong leadership team and a great foundation in place to build on.”

About Mark Gross
Mark Gross joins SUPERVALU with 20 years of grocery and wholesale leadership experience. From 1997 to 2006, Gross worked atC&S Wholesale Grocers, including serving as Co-President of C&S’s overall operations from 2005-2006. Additionally, during his tenure with C&S, Gross served as Chief Financial Officer, General Counsel, and President of its affiliated retail grocery operations.

For the past decade, Gross has led Surry Investment Advisors, a firm he founded, to provide consulting services to grocery distributors and retailers with respect to strategic and operational matters. In this advisory role, he has assisted grocery clients on several multi-billion dollar acquisitions and divestitures and consulted with private equity firms with respect to investments in food retail, distribution and consumer packaged goods sectors.

Gross earned his law degree from the University of Pennsylvania, graduating Cum Laude, and holds a BA from Dartmouth College, where he graduated with the highest honors in his major.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,407 stores composed of 1,871 independent stores serviced primarily by the Company’s food distribution business; 1,336 Save-A-Lot stores, of which 883 are operated by licensee owners; and 200 traditional retail grocery stores (store counts as of December 5, 2015). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “anticipates,” “expects,” “projects,” “plans,” “intends” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including uncertainties as to the transition of the role of the Company’s President and Chief Executive Officer from Mr. Duncan to Mr. Gross, the terms, timing or structure of any Save-A-Lot separation transaction and whether one will be consummated at all, and the impact of the leadership transition or any separation transaction on the businesses of SUPERVALU and the Save-A-Lot. Other factors include competition, ability to execute initiatives, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s, Inc. and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, governmental regulation, food and drug safety issues, legal proceedings, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: SUPERVALU INC.

SUPERVALU INC.
For Investors:
Steve Bloomquist, 952-828-4144
Steve.j.bloomquist@supervalu.com
or
For Media
Jeff Swanson, 952-903-1645
Jeffrey.swanson@supervalu.com

 

###

SUPERVALU Appoints Mark Gross President and Chief Executive Officer (Photo: Business Wire)

SUPERVALU Appoints Mark Gross President and Chief Executive Officer (Photo: Business Wire)

Posted on by

SUPERVALU INC. files with US SEC for possible spin-off of its Save-A-Lot business into a separate, publicly traded company

MINNEAPOLIS, 2016-1-8 — /EPR Retail News/ — SUPERVALU INC. (NYSE: SVU) today announced that it filed an initial Form 10 Registration Statement (Form 10) with the U.S. Securities and Exchange Commission in connection with the possible spin-off of its Save-A-Lot business into a separate, publicly traded company.

SUPERVALU announced in July 2015 that it was exploring a separation of its Save-A-Lot business, and that as part of that process it had begun preparations to allow for a possible spin-off of Save-A-Lot into a stand-alone public company. With the filing of the Form 10, SUPERVALU is continuing preparations to separate Save-A-Lot, although at this time there can be no assurances that a separation or spin-off of Save-A-Lot will occur, or that any other changes in the Company’s overall operations will happen.

To review the Form 10 filing on the SEC’s web site, use this link.

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,395 stores composed of 1,854 independent stores serviced primarily by the Company’s food distribution business; 1,342 Save-A-Lot stores, of which 901 are operated by licensee owners; and 199 traditional retail grocery stores (store counts as of September 12, 2015). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.

Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as “estimates,” “anticipates,” “expects,” “projects,” “plans,” “intends” and similar expressions are forward-looking statements within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including uncertainties as to the terms, timing or structure of any separation transaction and whether one will be consummated at all, the impact of any separation transaction on the businesses of SUPERVALU and the Save-A-Lot business on a standalone basis if the separation were to be completed, whether the operational and strategic benefits of a separation can be achieved and whether the costs and expenses of the separation can be controlled within expectations. Other factors include competition, ability to execute initiatives, substantial indebtedness, labor relations issues, escalating costs of providing employee benefits, relationships with Albertson’s LLC, New Albertson’s, Inc. and Haggen, intrusions to and disruption of information technology systems, impact of economic conditions, governmental regulation, food and drug safety issues, legal proceedings, severe weather, natural disasters and adverse climate changes, disruption to supply chain and distribution network, changes in military business, adequacy of insurance, volatility in fuel and energy costs, asset impairment charges, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU’s reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALUundertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.

Source: SUPERVALU INC.

SUPERVALU INC.
For Investors:
Steve Bloomquist, 952-828-4144
Steve.bloomquist@supervalu.com
or
For Media:
Jeff Swanson, 952-903-1645
Jeffrey.Swanson@supervalu.com

Posted on by

SUPERVALU INC. to hold its fiscal 2016 Q3 conference call on January 13, 2016

MINNEAPOLIS, 2016-1-5 — /EPR Retail News/ — SUPERVALU INC. (NYSE:SVU) will hold its fiscal 2016 third quarter conference call on Wednesday January 13, 2016 at 9:00 a.m. Central time. The call will be webcast live online at www.supervaluinvestors.com (click on microphone icon).

A replay of the conference call will be archived on SUPERVALU’s website under “Investors, Presentations and Webcasts.”

About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $18 billion.SUPERVALU serves customers across the United States through a network of 3,395 stores composed of 1,854 independent stores serviced primarily by the Company’s food distribution business; 1,342 Save-A-Lot stores, of which 901 are operated by licensee owners; and 199 traditional retail grocery stores (store counts as of September 12, 2015). Headquartered in Minnesota,SUPERVALU has approximately 40,000 employees. For more information about SUPERVALU visit www.supervalu.com.

Source: SUPERVALU INC.

SUPERVALU INC.
Investor Contact
Steve Bloomquist, 952-828-4144
steve.j.bloomquist@supervalu.com
or
Media Contact
Jeff Swanson, 952-903-1645
jeffrey.s.swanson@supervalu.com