Supervalu sales down as company goes through 'transitioning' period
MINNEAPOLIS — Supervalu posted sales of $3.89 billion and a loss of $1.41 billion in fourth quarter 2013, the company said Wednesday.
That result compared with sales of $3.98 billion and a loss of $424 million in fourth quarter 2012.
For the fiscal year, sales were $17.1 billion, compared with $17.3 billion in fiscal year 2012, while the company incurred a loss of $1.46 billion, compared with a $1.04 billion loss the year before.
"This past quarter was largely about transitioning the company for the future, and I am proud of the many things we accomplished in my first 60 days," Supervalu president and CEO Sam Duncan said. "I brought in Ritchie Casteel as Save-A-Lot's new president and CEO, and he has already right-sized that organization's overhead and, along with me, met with a number of licensees to understand what we can do to help drive sales and improve the overall operating model."
Retail food sales for the quarter were $1.09 billion, compared with $1.14 billion last year, while Save-A-Lot had sales of $969 million, compared with $984 million last year. The company's independent business had sales of $1.83 billion, compared with $1.86 billion in fourth quarter 2012.