US retailer Supervalu Inc has more than doubled its first-quarter earnings reflecting improved operating margins and a gain from the sale of its five retail grocery banners.

In the three months ended 15 June, net earnings climbed to US$85m from $41m last year. Operating profit also soared, reaching $249m compared to $73m in the year ago period.

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more

Sales in the period, however, dropped 1.5% to $5.16bn. The decline was primarily a result of a drop in identical store sales of 3% for retail food and 1.9% for Save-A-Lot.

“Our first quarter was highlighted by a renewed focus on driving sales and cash in all segments of our business and I’m pleased with the progress we made, especially the sequential improvement in sales trends from the fourth quarter of fiscal 2013 in each of our business segments,” said Sam Duncan, CEO.

Click here to view the full earnings release.

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

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now