NEW YORK — Supervalu said here yesterday it is accelerating the development of a premium line of private-label entrees and side dishes to take advantage of the consumer shift to trading down. Speaking to investors at a conference sponsored by Lehman Brothers here, Jeff Noddle, chairman and chief executive officer of the Minneapolis-based company, said the new line will be introduced nationally in late summer with a launch “as significant” as the company’s launch earlier this month of the Wild Harvest line. He said the Wild Harvest launch — under the theme “Organify Your World” — “has been one of the best marketing programs we’ve ever run, and sales are proving that to be true.” With food price inflation running at 3% to 4%, Noddle said Supervalu moved “a little quicker than initially planned” on the Wild Harvest introduction to get maximum benefit from the consumer shift toward more private brands as a way to deal with escalating food prices.
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