US retailer Supervalu Inc has confirmed that it has closed nine more stores as it continues to shutter under-performing outlets.
The company, which closed five Shaw’s Supermarkets stores last week, has also decided to cease operations at five Acme Markets outlets and four Albertsons stores.
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“We announced these store closings to ensure that we can eliminate these negative operating costs and better position the company for a healthier start to our new fiscal year,” a Supervalu spokesperson said.
Supervalu is set to issue its third-quarter results tomorrow (11 January). Analysts at Barclays Capital have predicted a 4.5% fall in identical-store sales and a 50 basis points decrease in EBITDA margins.
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