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BUSINESS
January 10, 2013 | By Tiffany Hsu
Supervalu Inc. is selling five of its top supermarket chains - Albertsons, Acme, Jewel-Osco, Shaw's and Star Market - to an investor group owned by Cerberus Capital Management for $100 million in cash. Cerberus' AB Acquisition group will also acquire $3.2 billion in debt in taking over the 877 stores. In addition, the investor group said it will try to take between a 19.9% and 30% stake in Supervalu. The tender offer of $4 a share represents a nearly 32% premium on Supervalu's closing price Wednesday.
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BUSINESS
April 17, 2013 | By Tiffany Hsu
Tesco PLC's ambitious U.S. experiment -- 5-year-old grocery chain Fresh & Easy -- has failed after costing its British parent billions of dollars, the company said Wednesday. After a strategic review of the brand in the last year, during which Tesco had indicated it might limp back across the pond to lick its wounds, the largest British grocer confirmed its “ exit from the United States .” Tesco will attempt to sell Fresh & Easy and its 200 stores in California, Arizona and Nevada.
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BUSINESS
January 9, 2008 | From Times Staff and Wire Reports
Shares of Supervalu Inc. dropped more than 16% after the grocer suggested that financial pressure was hurting customers and reduced its full-year guidance. The sell-off came as the owner of the Albertsons, Cub Foods, Shop 'n Save, Jewel-Osco, Shaw's and Star Market store brands reported that its third-quarter profit rose almost 25%. Chief Executive Jeff Noddle said the company expected consumer spending to continue to be pressured by inflation. Supervalu said it earned $141 million, or 66 cents a share, in the three months ended Dec. 1, up from $113 million, or 54 cents, in the same period a year earlier.
BUSINESS
March 26, 2013 | By Tiffany Hsu
Supermarket company Supervalu is eliminating 1,100 positions nationwide, or about 3% of its workforce, as it whittles down its store network. The move, announced Tuesday, comes just days after Supervalu finalized the $100-million sale of five of its grocery chains -- Albertsons, Acme, Jewel-Osco, Shaw's and Star Market -- to an investor group led by Cerberus Capital Management. Supervalu's remaining businesses include 1,331 Save-A-Lot discount groceries, 1,950 stores serviced by its wholesale distribution business and 191 regional groceries in the Cub, Farm Fresh, Shoppers, Shop 'n Save and Hornbacher's chains.
BUSINESS
October 29, 2010 | By P.J. Huffstutter, Los Angeles Times
Struggling against mounting pressure from big-box food retailers, grocery chain Supervalu Inc. has sold off its Bristol Farms stores to a team of local management and a West Coast investment firm. Bristol Farms, based in Carson, operates mostly in Los Angeles County and is known for its organic products and seasonal edible gifts, thanks to an in-house catering service that cooks up everything from gourmet pastries to full holiday meals ? all with upscale prices to match. The 13-store chain, which also has locations in Ventura, San Diego and Riverside counties and in the Bay Area, and a Lazy Acres store in Santa Barbara, will continue to operate under their current names with existing local management.
BUSINESS
September 7, 2012 | By Walter Hamilton and Ricardo Lopez, Los Angeles Times
Jackie Dancy has been to the Albertsons supermarket near her Baldwin Hills home many times, but she couldn't care less that the store is closing permanently. The retired accountant now does most of her grocery shopping at a nearby Target, which she likes for its convenience and low prices. "It's much cleaner and well stocked," Dancy said. "They always have what you need. " Supermarkets are a staple of most neighborhoods, but their community status and financial well-being are under intense assault from rivals of all sizes that have steadily siphoned off the grocers' customers.
BUSINESS
June 6, 2012 | By Shan Li
Grocery store chain Albertsons, a division of SuperValu Inc., is laying off up to 2,500 workers at its supermarkets in Southern California and Nevada in an effort to slash costs amid slumping sales. The layoffs will begin June 17 and affect a "small number" of employees at every Albertsons store in the two states, said company spokeswoman Lilia Rodriguez. The chain operates 213 supermarkets in California and 34 in Nevada. Rodriguez declined to comment on the numbers of lost jobs in Los Angeles, but said the majority of payroll reductions will affect California.
NATIONAL
March 21, 2012 | By Michael Muskal
The nation's third largest supermarket chain announced Wednesday that it was joining with other major retailers and would stop selling ground beef containing “pink slime,” also known as “lean, finely textured beef.” Supervalu Inc. announced its decision in an e-mail to reporters. Earlier Wednesday,  Safeway Inc., which operates Vons in California and Nevada, announced it was dropping the product. “While it's important to remember there are no food safety concerns with products containing finely textured beef, this decision was made due to ongoing customer concerns over these products,” Supervalu said in its statement.
BUSINESS
January 11, 2013 | By Tiffany Hsu
Suffering from brand fatigue? Too many product labels screaming for your attention? One major department store is going hush-hush, stripping famous items of their logos and implementing a silence room and meditation spaces for shoppers. British department store Selfridges - think of it as London's version of Bloomingdales in New York - is rolling out its “No Noise” campaign , which it calls “an initiative that goes beyond retail.” “As we become increasingly bombarded with information and stimulation, the world is becoming a noisier place,” Selfridges' website states.
BUSINESS
January 10, 2013 | By Tiffany Hsu
It's not just the “Grey's Anatomy” mid-season premiere Thursday night weighing on Patrick Dempsey's mind - the would-be coffee company owner is facing several objections to his pending purchase of Seattle's Tully's chain. Last week, the actor known as McDreamy triumphantly announced that his group Global Baristas' $9.15-million bid for Tully's was deemed the winner by the bankrupt company. Several of the six other bidders, however, now say they won't go away without a tussle.
BUSINESS
January 11, 2013 | By Tiffany Hsu
Suffering from brand fatigue? Too many product labels screaming for your attention? One major department store is going hush-hush, stripping famous items of their logos and implementing a silence room and meditation spaces for shoppers. British department store Selfridges - think of it as London's version of Bloomingdales in New York - is rolling out its “No Noise” campaign , which it calls “an initiative that goes beyond retail.” “As we become increasingly bombarded with information and stimulation, the world is becoming a noisier place,” Selfridges' website states.
BUSINESS
January 10, 2013 | By Tiffany Hsu
It's not just the “Grey's Anatomy” mid-season premiere Thursday night weighing on Patrick Dempsey's mind - the would-be coffee company owner is facing several objections to his pending purchase of Seattle's Tully's chain. Last week, the actor known as McDreamy triumphantly announced that his group Global Baristas' $9.15-million bid for Tully's was deemed the winner by the bankrupt company. Several of the six other bidders, however, now say they won't go away without a tussle.
BUSINESS
January 10, 2013 | By Tiffany Hsu
Supervalu Inc. is selling five of its top supermarket chains - Albertsons, Acme, Jewel-Osco, Shaw's and Star Market - to an investor group owned by Cerberus Capital Management for $100 million in cash. Cerberus' AB Acquisition group will also acquire $3.2 billion in debt in taking over the 877 stores. In addition, the investor group said it will try to take between a 19.9% and 30% stake in Supervalu. The tender offer of $4 a share represents a nearly 32% premium on Supervalu's closing price Wednesday.
BUSINESS
September 7, 2012 | By Walter Hamilton and Ricardo Lopez, Los Angeles Times
Jackie Dancy has been to the Albertsons supermarket near her Baldwin Hills home many times, but she couldn't care less that the store is closing permanently. The retired accountant now does most of her grocery shopping at a nearby Target, which she likes for its convenience and low prices. "It's much cleaner and well stocked," Dancy said. "They always have what you need. " Supermarkets are a staple of most neighborhoods, but their community status and financial well-being are under intense assault from rivals of all sizes that have steadily siphoned off the grocers' customers.
BUSINESS
September 6, 2012 | Shan Li and Walter Hamilton
The parent company of the Albertsons supermarket chain is closing 26 stores nationwide, including 18 in Southern California, as it tries to overcome sharp operating losses and stiff price competition from big-box rivals. Supervalu Inc. said late Wednesday that the closings are part of a decision to eliminate about 60 stores nationwide, primarily in its Albertsons and Save-A-Lot chains. Albertsons will have 228 stores in California after the closures. Among the Albertsons locations in Southern California scheduled to be closed by December are stores in Long Beach, Glendale, Northridge and Van Nuys.
BUSINESS
June 7, 2012 | By Shan Li, Los Angeles Times
Grocery store chain Albertsons, a division of SuperValu Inc., is laying off as many as 2,500 workers at its supermarkets in Southern California and Nevada in an effort to slash costs amid slumping sales. The layoffs, which begin June 17, will affect a "small number" of employees at every Albertsons store in the two states, company spokeswoman Lilia Rodriguez said. The chain operates 213 supermarkets in California and 34 in Nevada. Rodriguez declined to comment on the number of lost jobs in Los Angeles, but said most payroll reductions will affect California.
BUSINESS
April 17, 2013 | By Tiffany Hsu
Tesco PLC's ambitious U.S. experiment -- 5-year-old grocery chain Fresh & Easy -- has failed after costing its British parent billions of dollars, the company said Wednesday. After a strategic review of the brand in the last year, during which Tesco had indicated it might limp back across the pond to lick its wounds, the largest British grocer confirmed its “ exit from the United States .” Tesco will attempt to sell Fresh & Easy and its 200 stores in California, Arizona and Nevada.
NATIONAL
March 21, 2012 | By Michael Muskal
The nation's third largest supermarket chain announced Wednesday that it was joining with other major retailers and would stop selling ground beef containing “pink slime,” also known as “lean, finely textured beef.” Supervalu Inc. announced its decision in an e-mail to reporters. Earlier Wednesday,  Safeway Inc., which operates Vons in California and Nevada, announced it was dropping the product. “While it's important to remember there are no food safety concerns with products containing finely textured beef, this decision was made due to ongoing customer concerns over these products,” Supervalu said in its statement.
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