Supervalu fiscal Q2 sales driven by strong sales and comps gains at Save-A-Lot
SEAFOODNEWS.COM [Supermarket News] by Jenna Telesca - October 17, 2014 -
Save-A-Lot sales of $1 billion for the fiscal second quarter ended Sept. 6 increased by 8% from the same quarter last year, the company said Thursday. Overall sales for Supervalu, including its retail and independent segments, totaled $4 billion, a 1..8% increase. Net earnings of $31 million decreased by 23% as compared to the same period a year ago but were within analyst expectations.
Sales at corporate and licensee Save-A-Lot stores were the highest on record. Identical store sales at Save-A-Lot improved by 6.5% and corporate stores within that network had 8.2% identical store sales increases. Basket size was also up 1.8% for the quarter.
The company expects to open 65 new Save-A-Lot stores for 2015.
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