Supervalu has announced that it fell to a net loss of US$424m for the final quarter of fiscal 2012, down from net earnings of US$95m last year, while net sales dropped from US$8.7bn in 2011 to US$8.2bn.
Fourth quarter retail food net sales were US$6.4bn, compared with US$6.7bn last year, with retail food operating loss coming to US$335m.
For the full-year of fiscal 2012, Supervalu reported net sales of US$36.1bn and a net loss of US$1.04bn.
'I am pleased with the launch of our business transformation this year and the initial results from that strategy which helped us deliver our adjusted earnings results of US$1.25 for fiscal 2012,' said Craig Herkert, chief executive officer and president at Supervalu. 'Our disciplined approach to pre-funding price investments is allowing us to invest across markets, categories and items. We remian focused on delivering improved value for our customers and meeting the specific needs of each community we serve.'
Looking ahead to 2013, the group expects to generate earnings per diluted share on a GAAP basis within a range of US$1.27-US$1.42.
'We are committed to fair price plus promotions and we will intensify our efforts as we enter the second year of our business transformation,' Herkert added. 'A we move into fiscal 2013, we see another year of improving identical store sales and will continue to take appropriate steps to deliver greater value to our customers and move closer to becoming America's Neighbourhood Grocer.'
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