Supervalu Sees Shoppers Adjusting to Economy

Apr 18, 2008 6:00 AM


         Subscribe in NewsGator Online   Subscribe in Bloglines

MINNEAPOLIS — Supervalu here said yesterday that shoppers seem to be seeking out more promotions, buying more store brands and using more coupons as a result of the soft economy and rising food prices. In a conference call with analysts discussing its fourth-quarter earnings, Jeff Noddle, Supervalu’s chairman and chief executive officer, also said food retailers have been more aggressively promotional in the current environment but have continued to pass cost increases along to consumers in the form of higher retail prices. “We don’t see anybody really using inflation or not passing through inflation as a competitive strategic marketing tool,” he said. “It’s been pretty orderly.” Supervalu also said it would begin rolling out its new “Simply Good Meals” meal-solution program, located in the deli department, which consists of a self-service island with “restaurant-quality, easy-to-assemble meals.” For the fourth quarter, which ended Feb. 23, Supervalu reported $156 million in net income, up 30% over year-ago results, on a slight sales gain, to $10.4 billion. For the full year — the first full year to include a full 52 weeks of Albertsons results — net income was up 31.2%, to $593 million, on a 17.8% gain in sales, to about $44 billion. Retail sales for the fourth quarter were down slightly, to $8.1 billion, primarily due to store closures. Identical-store sales were flat.

Read More of Today's Headlines

Want to use this article? Click here for options!
© 2009 Penton Media Inc.


Acceptable Use Policy
blog comments powered by Disqus

Subscribe / Renew to Supermarket News

Supermarket News

The most reliable source of industry news and insight...in print and online.

Most Viewed News

Read More News


Refresh: A Whole Health Blog

Bob Vosburgh

Bob Vosburgh:

Read More Refresh

SN Videos

Food vs. Fuel Debate

From Farm Industry News, another Penton Media publication.

View All

Articles by Market
Retail/Financial
Executive Changes
Grocery/Center Store/
Brands
Health & Wellness
In-Store Bakery/Deli/Meals
Logistics
Marketing
Meat/Seafood/Dairy
Nonfoods/Pharmacy/HBC
Produce/Floral
Specialty/Ethnic
Technology
Key Issues
Food Safety/Recalls
Legislation/Regulations
Sustainability/Green
Resources
Profiles & Rankings
SN Awards
SN Data
White Papers/Studies
Webinars
2009 Trade Show Calendar
Social Media
Refresh: A Whole
Health blog
Total Access Blog:
Fancy Food Show 2009
Photo Galleries
RSS


Related Penton Sites



Baking Management magazine present Baking Product Trends. Trends in baked products reveal consumers interest in more healthful products, and yet indulgence still plays a key role.

Subscribe to SN

Latest Cover

IRI Times & Trends

"The Value/Premium Dichotomy: Growth at Both Ends of the Spectrum"
The latest Information Resources Inc. report explores the power of value and premium CPG products to drive growth at both ends of the spectrum in recessionary economic conditions.

SN Free Daily Update

newsletter image

The food trade’s leading daily news service. Register Here

Upcoming Events

July
24-26
Foodservice Conference and Exposition
Produce Marketing Association
Monterey, Calif.
302.738.7100

July
28-29
Joint Industry Unsaleables Management Conference
Grocery Manufacturers Association
JW Marriott, Las Vegas
202.639.5900

View All Upcoming Events

Jobs/Classifieds

View All Classifieds

More Premium Content

Meat in the Middle

Meat in the Middle

Summer is finally here, and retailers are hoping that the warming weather might help take some of the chill out of the economy.

Getting Saucy

Getting Saucy

After tasting three variations of barbecue sauce fashioned after best-selling brand Montgomery Inn, Dorothy Lane Market's testers...

Lighting the Case

Lighting the Case

Refrigerated and freezer cases account for nearly half of a supermarket's annual electricity costs, according to the Lighting Research Center (LRC)...

Switch Hitters

Switch Hitters

After a relatively quiet period in the Rx-to-OTC arena, supermarkets can prepare for the next new wave of drugs to go over the counter in the near future.

Subscribe to Premium Content Today!

Subscribe to Premium Content Today!

Corporate Finance

Read in-depth coverage of quarterly reports.

Marketing Trends

New promotions, new pricing, new products.

Subscribe to Premium Content