Back in March when Supervalu completed its sale of Albertsons, Acme, Jewel-Osco, Shaw's and Star Market stores to AB Acquisition, the company made clear that its focus going forward would be primarily on its wholesaling operations, which serve roughly 1,900 independently owned and operated stores.
That commitment was reinforced by the company at its recent shareholder meeting when discussing its recent acquisition of 10 Rainbow Foods stores in the Twin Cities area from Roundy's. Eight other Rainbow locations were purchased by independents served by Supervalu, including Jerrys Enterprises, Haug Enterprises, Lund Food Holdings and Radermacher Enterprises.
"I have no desire to be a big retailer — none," Sam Duncan, president and chief executive officer of Supervalu, told shareholders at the company's annual meeting (via the St. Paul Pioneer Press). "We are a great wholesaler, that's what we're good at. That's what our focus is going to be for this company; it's the largest part of our organization."
In April, the company announced fourth quarter sales were down 0.6 for its Independent Business (wholesale) division due to the loss of two key accounts and the effects of sequestration on its business with the military. It will report its 1Q15 earnings on July 24.
Supervalu continues to own, license and operate banners including Cub Foods, Farm Fresh, Hornbacher's, Save-A-Lot, Shop 'N Save and Shoppers.
- Supervalu sees its future in wholesale, not grocery stores - St. Paul Pioneer Press
- Annual Meeting of Stockholders (webcast) - Supervalu Inc.
- Supervalu and Four Independent Grocery Retailers Begin Conversion of Several Twin Cities Rainbow Stores - Supervalu Inc.
- Is the New Supervalu a Stronger Supervalu? - RetailWire