SuperValu Inc. reported a net loss of $25.0 million, or 65 cents per share, down from $31.0 million, or 81 cents per share, for the same period last year. Adjusted EPS was 46 cents, beating the 36-cents FactSet consensus. Sales totaled $3.8 billion, up from $2.8 billion last year and ahead of the $3.79 billion FactSet estimate. SuperValu Chief Executive Mark Gross highlighted the company’s wholesale business, which represented more than 70% of sales, in a statement. Wholesale sales were $2.7 billion for the quarter, up from $1.7 billion last year. Retail and corporate sales were nearly flat year-over-year. SuperValu also announced it has acquired Associated Grocers of Florida, a retailer-owned cooperative that distributes primarily in South Florida, the Caribbean, Central and South America and Asia, for about $180 million. For its last fiscal year ending July 29, Associated Grocers’ revenue totaled about $650 million, according to the acquisition announcement. SuperValu shares indicated higher in Wednesday premarket trading, but are down nearly 45% for the past year. The S&P 500 index is up 19.6% for the last 12 months.
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