MINNEAPOLIS -- Supervalu here said last week sales and earnings hit record levels for the 10th consecutive quarter in the 12 weeks ended Sept. 11.
ome was up 14% to $45.5 million for the quarter and 22.4% to $112.2 million, including the benefits of a onetime gain, for the half.
The company said the sales increase reflects the benefits of 36 new stores over the past 12 months, along with the results of Richfood Holdings Co. for the last 12 days of the quarter. Supervalu completed its acquisition of Richfood, Richmond, Va., Aug. 31.
Supervalu said sales in its retail food division increased 19.9% to $1.4 billion for the quarter -- driven by sales at acquired stores, excluding stores acquired from Richfood -- and 15.9% to $3 billion for the half. Same-store sales at corporate stores were "essentially flat," the company added; it did not indicate same-store sales for the half.
Sales in the food distribution segment rose 2.5% to $3.5 billion for the quarter, the company said, reflecting the growth in the retail segment and the Richfood acquisition, which more than offset the loss of sales from the sale of Hazelwood Farms Bakeries in the first quarter; for the half distribution segment sales rose 0.9% to $8.1 billion.
