- Supervalu (NYSE:NYSE:SVU) reports Wholesale net sales grew 0.2% to $1.91B primarily due to sales to new customers and increased sales to new stores operated by existing customers.
- Retail net sales decreased 3.4% to $1.06B and identical store sales down 5.7%.
- Gross margin rate declined 70 bps at 13.6% due to lower TSA fees and higher employee costs.
- Adjusted SG&A expense rate improved 30 bps to 11.6% primarily due to lower pension expense.
- Operating margin rate dropped 210 bps to 0.1%.
- Press release