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BUSINESS
March 15, 2006 | From the Associated Press
Albertsons Inc. announced that the Federal Trade Commission had approved the $11.1-billion sale of the company to a consortium led by Minnesota-based grocer Supervalu Inc. and drugstore chain CVS Corp. Shareholders of Albertsons and Supervalu are expected to approve the deal. Albertsons shares climbed 19 cents to $25.79.
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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.
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BUSINESS
June 10, 1992 | From Times Staff and Wire Reports
Merger Would Create Largest Food Distributor: Supervalu Inc. and St. Louis-based Wetterau Inc. said they are planning a merger that would create the country's largest food distributor. Supervalu, the nation's No. 2 food wholesaler, would buy No. 4 Wetterau and make it a wholly owned subsidiary in a deal valued at about $1.1 billion, the companies said. The transaction is subject to further negotiations and approval by both companies' boards, shareholders and regulators.
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
May 20, 2006 | From Bloomberg News
Albertson's Inc., the supermarket chain being sold to a group led by Supervalu Inc., plans to settle a shareholder class-action lawsuit tied to the deal. Albertson's said it had entered into a memo of understanding to settle the suit, according to a regulatory filing. The Boise, Idaho-based supermarket chain said in the filing that it had agreed to disclose more information about the circumstances and events leading up to the acquisition agreement.
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
June 5, 2007 | From Times Staff and Wire Reports
Supervalu Inc. said it was recalling some ground beef sold in its Albertsons and Save-A-Lot stores because it was believed to be contaminated with E. coli. Most of the products were sold under the Moran's label at Albertsons stores in California, Idaho, Montana, Nevada, North Dakota, Oregon, Utah, Washington and Wyoming and at Save-A-Lot stores in Arizona, California and Nevada.
BUSINESS
June 10, 1999 | Bloomberg News
SuperValu Inc., the largest U.S. distributor of food to supermarkets, agreed to buy Richfood Holdings Inc. for about $858 million in cash and stock to build its business in the mid-Atlantic U.S. SuperValu would pay $18.50 a share, half in cash and half in stock, for each Richfood share. The company also would take on about $642 million in debt. The offer is a 24% premium over Richfood's closing price Tuesday.
BUSINESS
May 23, 2006 | From Reuters
Supervalu Inc., which is set to become the second-largest traditional U.S. grocery chain once it buys most of Albertsons Inc.'s stores, Monday outlined its forecast for the combined business. The acquisition would come at a key time as grocers such as Supervalu and Albertsons have struggled to keep consumers interested in their stores. Supervalu forecast fiscal 2007 earnings of $2.17 to $2.44 a share and total sales of about $37.
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
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
June 5, 2007 | From Times Staff and Wire Reports
Supervalu Inc. said it was recalling some ground beef sold in its Albertsons and Save-A-Lot stores because it was believed to be contaminated with E. coli. Most of the products were sold under the Moran's label at Albertsons stores in California, Idaho, Montana, Nevada, North Dakota, Oregon, Utah, Washington and Wyoming and at Save-A-Lot stores in Arizona, California and Nevada.
BUSINESS
May 31, 2006 | From the Associated Press
Shareholders approved the sale of much of Albertsons Inc. to a group led by Supervalu Inc. on Tuesday, bringing Supervalu closer to its goal of being one of the nation's largest grocers. The votes came on the same day that Albertsons, the nation's second-largest traditional grocer, reported that first-quarter earnings rose 67%, helped by a one-time gain for pension curtailments. The deal gained approval from 98% of voting Albertsons shareholders and 92.6% of Supervalu shareholders.
BUSINESS
May 23, 2006 | From Reuters
Supervalu Inc., which is set to become the second-largest traditional U.S. grocery chain once it buys most of Albertsons Inc.'s stores, Monday outlined its forecast for the combined business. The acquisition would come at a key time as grocers such as Supervalu and Albertsons have struggled to keep consumers interested in their stores. Supervalu forecast fiscal 2007 earnings of $2.17 to $2.44 a share and total sales of about $37.
BUSINESS
March 15, 2006 | From the Associated Press
Albertsons Inc. announced that the Federal Trade Commission had approved the $11.1-billion sale of the company to a consortium led by Minnesota-based grocer Supervalu Inc. and drugstore chain CVS Corp. Shareholders of Albertsons and Supervalu are expected to approve the deal. Albertsons shares climbed 19 cents to $25.79.
BUSINESS
June 10, 1999 | Bloomberg News
SuperValu Inc., the largest U.S. distributor of food to supermarkets, agreed to buy Richfood Holdings Inc. for about $858 million in cash and stock to build its business in the mid-Atlantic U.S. SuperValu would pay $18.50 a share, half in cash and half in stock, for each Richfood share. The company also would take on about $642 million in debt. The offer is a 24% premium over Richfood's closing price Tuesday.
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
June 10, 1992 | From Times Staff and Wire Reports
Merger Would Create Largest Food Distributor: Supervalu Inc. and St. Louis-based Wetterau Inc. said they are planning a merger that would create the country's largest food distributor. Supervalu, the nation's No. 2 food wholesaler, would buy No. 4 Wetterau and make it a wholly owned subsidiary in a deal valued at about $1.1 billion, the companies said. The transaction is subject to further negotiations and approval by both companies' boards, shareholders and regulators.
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