The CEO and president of US grocery retailer Supervalu Inc said today (27 July) he was “disappointed” with the company’s first-quarter performance.

The company posted net earnings of US$67m for the three months to 19 June, down 40.7% on the same quarter last year. Net sales fell 9.2% to $11.54bn.

The company added that when adjusted for $25m in net after-tax charges, primarily related to market exits in Connecticut and Cincinnati and the labour dispute at Shaws, first-quarter net earnings were $92m.

Supervalu president and CEO Craig Herkert said: “While we are putting in the right programmes to best serve our customers, we are disappointed with our first-quarter sales performance. We continue to control our margins well and take costs out of the business.”

The company attributed the plummeting results to negative identical-store sales, which fell 7.2% alongside previously announced market exits.

Excluding Shaw’s, which was impacted by a labour dispute during the quarter, identical-store sales were down 6.5%.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Supervalu said the identical-store sales were down to a challenging economic environment and heightened competitive activity.

However, Herkert reaffirmed the company’s full-year earnings guidance. “We are pleased to reaffirm our full-year earnings guidance before one time items,” he said.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now