US: Supervalu outlines revised buyback plan
By: just-food.com | 29 May 2008
US grocer Supervalu has announced plans to buy back up to US$70m of the company's shares.
The retailer's board yesterday (28 May) gave the go-ahead for the plan, which replaces last year's plan to buy back $235m in shares.
Last month, Supervalu posted rising sales and earnings for its 2008 fiscal year.
The company booked net earnings of US$593m, up 31% on the year. Net sales climbed 18% to $44m.
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.
Sectors: Retail
Companies: Supervalu
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