Supervalu announced last week that Save-A-Lot continued to see improved results in the company’s fiscal third quarter.
- Identical-store sales at corporately-owned Save-A-Lot stores rose 5.4%, lifting overall identical-store sales to a 1.7% gain.
- Operating income rose 48% to $27 million, which the company largely attributed to cost reductions made earlier in the year.
- Overall sales increased 2.6% to $991 million.
Supervalu CEO Sam Duncan credited the results to the rollout of Save-A-Lot’s fresh cut meat program, a renewed focus on produce, and the greater level of confidence the licensees have in the Save-A-Lot team.
For Supervalu’s conventional retail food stores and for the wholesale division, sales were down for the quarter. The company’s net income from continuing operations in the quarter totaled $32 million, compared to a $15 million loss one year ago.