Supervalu reports dip in earnings for Q2
MINNEAPOLIS Supervalu today reported its totals for second quarter 2009 sales and earnings.
Supervalu said that in the second quarter its net sales totalled $10.2 billion, compared with a total of $10.2 billion last year. The company’s net earnings checked in at $128 million, in comparison with $148 million at the same time last year (earnings per share totaled $0.60 diluted compared to $0.69 diluted in the second quarter 2008, including expenses related to acquisitions, which totaled $3 million and $19 million, or $0.01 and $0.05, respectively, pre-tax per share, diluted.
For its 2009 year-to-date total sales, Supervalu rang up $23.6 billion compared to $23.5 billion in year-to-date sales for the same time last year. Net earnings reported totaled $290 million, compared to last year’s sum of $296 million last year, or $1.36 per share diluted, compared with $1.37 diluted for the same period in 2008.
Supervalu also reported that its retail food net sales for the second quarter totaled, $8.0 billion, remaining the same as the previous year. The company’s retail square footage was down by 0.1 percent from the second quarter of last year, a total that was partially offset by new store openings in several markets.
Cub Food hopes to spread environmental awareness with opening of ‘green’ grocery store
MINNEAPOLIS Cub Food is now operating the nation’s first “green” grocery store in St. Paul, the company said. The store is certified by the Leadership in Energy and Environmental Design and will save about $6,500 in energy costs per year.
To construct the store, builders used recycled materials and energy-efficient lights and fixtures. The store also has 44 solar-powered skylights and the parking lot is equipped with LED lights which have a lifetime of about 40 years.
Additionally, the outdoor landscaping will be irrigated using a system designed to conserve water and landscapers will plant drought-resistant plants around the store, Cub Food said.
Spartan expanding acquisition plans to cover VG’s stores in Michigan
GRAND RAPIDS, Mich. Spartan Stores on Monday announced that it has entered into a purchase agreement to acquire 17 retail grocery stores, including 15 pharmacies, from VG’s Food Center and VG’s Pharmacy, a privately held Fenton, Michigan-based retail grocery operator.
“We are very enthused to bring VG’s, a premier Michigan retail grocery operator, further into the Spartan Stores’ family,” stated Craig Sturken, Spartan chairman. This transaction follows our successful acquisitions of D&W Food Centers and Felpausch Food Centers. The VG’s stores serve communities in key Michigan markets where we have no retail presence. The Van Gilder family has been one of our best and most loyal distribution customers for nearly 50 years, and we are very proud of our long-standing relationship with them.”
Spartan expects the transaction to close near the end of its fiscal 2009 third quarter. Upon completion, the transaction is expected to increase annual retail segment sales by approximately $310 million, with annual consolidated sales increasing approximately $160 million, as VG’s is an existing distribution customer of Spartan’s.
The acquisition grows Spartan’s footprint to 101 retail supermarkets. Prior to the announcement Spartan Stores owned and operated 84 retail supermarkets in Michigan, including Family Fare Supermarkets, Glen’s Markets, D&W Fresh Markets and Felpausch Food Centers.