This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

SUPERVALU Reports First Quarter Fiscal 2014 Results

SUPERVALU INC. (NYSE: SVU) today reported first quarter fiscal 2014 net sales of $5.16 billion and net earnings of $85 million, or $0.34 per diluted share.

Net loss from continuing operations for the first quarter of fiscal 2014 was $105 million, or $0.43 per diluted share, and included $139 million in after-tax charges, or $0.57 per diluted share, primarily related to current and previous financing activities, employee severance, and asset impairments. When adjusted for these charges, first quarter fiscal 2014 net earnings from continuing operations was $34 million, or $0.14 per diluted share. Net income from discontinued operations in the first quarter, which totaled $190 million or $0.77 per diluted share, included the benefits from the finalization of tax related matters and a favorable adjustment to the previously recorded loss on sale of five retail grocery banners in the first quarter. In the first quarter of fiscal 2013, the net loss from continuing operations was $18 million, or $0.08 per diluted share. [See tables 1-2 for a reconciliation of GAAP and non-GAAP (adjusted) results appearing in this release.]

“Our first quarter was highlighted by a renewed focus on driving sales and cash in all segments of our business and I’m pleased with the progress we made, especially the sequential improvement in sales trends from the fourth quarter of fiscal 2013 in each of our business segments,” said Sam Duncan, SUPERVALU’s president and chief executive officer. “We have a good foundation, strong leadership team, improved debt maturity profile, and achievable goals across each operating segment.”

“In the Independent Business, we reduced the rate of sales decline from the fourth quarter in spite of lower military sales. Our first National Retail Advisory Group meeting was very successful and we continue to talk with potential new customers,” added Duncan.

“Save-A-Lot also showed improved ID sales trends across its store network and within its corporate stores while lowering the inside margin,” Duncan continued. “Save-A-Lot has made great strides on bettering its perishable offering and its overall in-store merchandising.”

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.72 -0.02%
FB $118.66 0.92%
GOOG $698.70 0.82%
TSLA $241.90 0.47%
YHOO $36.53 -0.19%


Chart of I:DJI
DOW 17,888.04 +114.40 0.64%
S&P 500 2,081.59 +16.29 0.79%
NASDAQ 4,818.61 +43.2520 0.91%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs