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Supervalu Inc's net loss in the third quarter has widened to total US$750 million. Total revenue in the third quarter 2012 totalled US$8.3 billion with total revenues for the whole year now forecast to total US$36.1 billion.
SuperValu Inc is continuing to implement the company's business transformation plan and remains on track to deliver on its 8 Plays to Win Strategy. Food retail sales during the third quarter remained relatively constant, reporting only a 2.9% decline to US$6.3 billion in Q3 2012 compared to US$6.6 billion last year. Interestingly, Total Logistic Control gross profit margins in Q3 2012 increased slightly from 21.5% in the third quarter FY2011 to 21.7% or US$1.8 billion in Q3 2012.
Supervalu are positioning themselves to deliver their diverse customer base greater value for money in fiscal 2013. Supervalu operates a network of approximately 4300 stores with 1,104 of these stores representing traditional retail outlets, including 798 in-store pharmacies. There are 1,309 hard-discount stores of which 922 are operated by licensee owners and 1,900 independent stores services primarily by the company's traditional food distribution business. In total, Supervalu employs approximately 135,000 employees.
The company is having to control recent losses and has once again reduced its expansion plans for Save-A-Lot stores with only 50 to 60 stores now being newly opened.
To view more details on the state of the US retail market, please click here: http://www.companiesandmarkets.com/Market-Report/the-future-of-retailing-in-united-states-to-2015-619623.asp
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