MINNEAPOLIS -- Supervalu here said last week store closings and the end of a supply agreement with Kmart earlier in the year resulted in lower sales and earnings for the second quarter and first half ended Sept. 8.
il food segment, sales rose 0.8% to $2.2 million for the quarter and 2.9% to $5 billion for the half; sales in the distribution segment were down 20% to $2.6 billion for the quarter and 10.5% to $6.7 billion for the half.
Jeff Noddle, president and chief executive officer, said Supervalu plans to accelerate the growth of Save-A-Lot. He also said the company plans to expand its retail operations here, elsewhere in the Midwest and in Washington, and to reposition its Farm Fresh stores in the Norfolk, Va., area. On the distribution side, he said Supervalu is in discussions with a variety of operators, including drug and convenience stores.