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.
“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.