US: Supervalu hails "milestone" year

By: just-food.com | 17 April 2008

US grocer Supervalu has posted rising sales and earnings for its 2008 fiscal year, the company announced today (17 April).

The company booked net earnings of US$593m, up 31% on the year. Net sales climbed 18% to $44m.

The figures were helped by a greater contribution from the Albertson's business that Supervalu bought in June 2006.

Supervalu benefited from a full year's contribution from the business in its 2008 fiscal year. The company's 2007 results included 38 weeks of Albertson's sales and earnings.

Chairman and CEO Jeff Noddle said the fiscal 2008 year saw a number of "important milestones" for the business.

"Looking to fiscal 2009, we remain focused on our integration initiatives, including the implementation of key merchandising programs and the continued roll-out of our Premium, Fresh and Healthy remodel programme," Noddle added.

Sectors: Retail

Companies: Supervalu