Supervalu returned to a profit in its fiscal second quarter after posting a loss in the same period a year ago due to a large charge. Its adjusted profit and revenue beat analysts’ expectations. Shares climbed more than 6 percent premarket trading Thursday.
It’s a source of pride for many Minnesotans – the number of Fortune 500 companies that call Minnesota home. “We live in an amazing state, so I thought a big percentage were here,” said Diane Anderson, of Minneapolis.
Office supplies retailer OfficeMax Inc. said Wednesday that its Chief Financial Officer Bruce Besanko is leaving to take the same role at supermarket chain Supervalu Inc.
Supervalu is eliminating about 1,100 positions nationwide, or about 3 percent of its workforce, less than a week after the supermarket operator completed the sale of five of its grocery chains.
Supervalu Inc. says it reached a deal to sell five of its biggest grocery chains — Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market — for $100 million in cash plus more than $3 billion in debt.
It seems like we’re all in the grocery store this time of year. And most of us buy a few store brands.
Supervalu Inc. said Wednesday that will close another 60 underperforming stores as it pushes to turn around its struggling business.
Supervalu is ousting CEO Craig Herkert as the grocery chain looks to right its business following disappointing quarterly results and plans to possibly put itself up for sale.
The future of supermarket chain Supervalu is becoming cloudier.
Minnesota-based Super Valu is considering putting itself up for sale.
Supervalu Inc. said Tuesday that it swung to a loss in the fourth quarter as a result of impairment charges and costs related to store closures and layoffs. But excluding those items, the company’s results beat Wall Street’s expectations, sending its shares up 15 percent.
At least three national supermarket operators have decided to stop buying ground beef that contains the filler now known as “pink slime.”
Supervalu Inc. announced plans Tuesday to cut an estimated 800 jobs nationally, including about 200 jobs in the Twin Cities.
Grocery store operator Supervalu Inc. said Wednesday that its fiscal third-quarter net loss widened due to costs related to a turnaround plan, continued high food prices and a cautious consumer.
SuperValu Inc. returned to a profit in its fiscal second quarter, absent hefty goodwill and impairment charges incurred a year earlier.