Grocery employees union demands answers from Shoppers

Unionized employees of D.C.-area Shoppers grocery stores are demanding that the chain’s Providence, Rhode Island, parent company communicate with them about impending store closures. The ownership of Shoppers, which until October was Minnesota-based Supervalu, has been saying for the past two years that it wanted to divest its retail businesses [...]

2019-04-01T15:40:12+00:00April 1st, 2019|Tags: , |

Supervalu approves 1 for 7 reverse stock split

Supervalu Inc. plans a 1 for 7 reverse stock split at the close of business on Aug. 1, slashing the number of its common stock to 57.1 million, the grocery store chain said Thursday. Its total outstanding shares will also shrink to 38.4 million from 268.5 million. The company does [...]

2017-07-25T15:53:50+00:00July 25th, 2017|Tags: |

Supervalu CFO Resigns Amid Grocery Woes

Retail and wholesale food-seller Supervalu Inc.’s chief financial officer is resigning, the third executive to step down within the last week amid turmoil in the grocery industry. Bruce Besanko, who was also the Minnesota-based grocer’s chief operating officer, will step down July 5 “to pursue an opportunity outside the company,” [...]

2017-06-26T16:59:46+00:00June 26th, 2017|Tags: |

Grocery Stores To Starve For Profits?

The grocery sector may be in for a few lean months, if not years. As noted across several web sources, including Seeking Alpha, a number of executives offering insight at several industry conferences have said that sales are sluggish and that, at least in some cases, the causes are dual [...]

2016-09-13T00:41:41+00:00September 13th, 2016|Tags: , , |

Grocery Chains Reeling From Low Food Prices, Stiff Competition

Grocery retailer and distributor SuperValu (SVU) on Thursday became the latest industry player to warn about stiffer competition and lower food prices, slashing its full-year outlook amid what some analysts call signs of another grocery-store price war. The announcement comes a day after natural foods store Sprouts Farmers Market(SFM) cut its full-year outlook [...]

2016-09-09T16:55:03+00:00September 9th, 2016|Tags: , , , |

Grocery veteran named new CEO at Supervalu

Supervalu Inc. has chosen a new leader to take the company forward as it prepares for a potential spin-off of Sav-a-Lot. On Wednesday the company announced the appointment of Mark Gross as its president and CEO. Gross, 52, will succeed Sam Duncan who has previously announced he will be retiring. [...]

2016-02-03T18:30:39+00:00February 3rd, 2016|Tags: , |
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