NEW YORK — Supervalu plans to accelerate its use of everyday pricing in certain highly promotional categories at several banners “sooner than we had originally anticipated,” Jeff Noddle, chairman and chief executive officer, told investors here yesterday at the Morgan Stanley Global Consumer & Retail Conference.
“We’ve recognized there are certain categories at traditional formats where we and other operators have trained consumers to buy only when the items are on sale, such as cereal, and that those categories might do better with everyday pricing rather than promotional pricing.”
He said the company has already introduced that pricing approach in some sections at Shaw’s and Acme, “and we will do it at other banners sooner than we originally anticipated.”
During his presentation, Noddle sought to reassure investors that, as far as Supervalu's retail banners are concerned, “good things are just around the corner” — the tag line for its advertising across all banners.
“We have ample liquidity to meet our foreseeable needs,” he said. “While integration risks remain, we’ve made considerable progress to date. We have more leverage than our peers, but we have strong financial disciplines to provide flexibility in our debt structure and cash flows.”
Read More of Today's Headlines