Morgan Stanley Upgrades SUPERVALU (SVU) to Equalweight
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SUPERVALU to Explore Separating Its Save-A-Lot Business
July 28, 2015 8:02 AM EDTMINNEAPOLIS--(BUSINESS WIRE)-- SUPERVALU INC. (NYSE: SVU) today announced that it is exploring a separation of its Save-A-Lot business, and that as part of that process it has begun preparations to allow for a possible spin-off of Save-A-Lot into a stand-alone, publicly traded company.
Save-A-Lot is a leading national hard discount retailer with over 1,300 total stores, comprised of approximately 430 corporate stores and approximately 900 stores operated by licensee owners, and we believe Save-A-Lot has significant growth potential. Over the last two and a half years, Save-A-Lot has repositioned its brand, refocused its efforts... More
SUPERVALU Reports First Quarter Fiscal 2016 Results
July 28, 2015 8:00 AM EDTSales increase in all operating segments Seventh consecutive quarter of positive Save-A-Lot network ID sales Operating earnings of $158 million, $23 million higher than last year's first quarter Adjusted EBITDA of $246 million for Q1 fiscal 2016
MINNEAPOLIS--(BUSINESS WIRE)-- SUPERVALU INC. (NYSE: SVU) today reported first quarter fiscal 2016 net sales of $5.41 billion and net earnings from continuing operations of $63 million ($0.23 per diluted share), which included $2 million in after-tax structural and tax planning... More
