Supervalu, the operator of 2,500 retail outlets in the US, has reported first-quarter net retail food sales of US$8.6bn, down from US$9bn a year ago, and a reflection of a 3.9 per cent drop in identical-store sales.
Gross profit margin in the first quarter was $2.5bn, or 22.1 percent of net sales, compared to $2.6 billion or 22.5 percent last year.
The company reduced selling and administrative expenses from US$2.3bn to US$2.2bn after implementing cost-reduction initiatives designed to help it deal with competition from discounters such as Walmart.
Craig Herkert, CEO and president, said: 'Our dedicated associates are utilizing new planning tools, analytics and a hyper-local focus to help us meet the needs of today's consumers, while reducing shrink and improving our operations.'
