SuperValu Inc. (New York symbol SVU) operates about 2,500 company-owned and franchised supermarkets. Major banners include Save-A-Lot, Albertsons and Jewel-Osco. Supervalu gets 76% of its revenue from its retail stores. It gets the remaining 24% by supplying food to 1,890 independent stores.
The company continues to focus on its core business of food retailing, and has stopped selling other items, such as automotive goods and perfumes, in its stores.
In its fiscal 2011 third quarter, which ended December 4, 2010, the Wall Street stock’s sales fell 5.9% to $8.7 billion from $9.2 billion a year earlier. Same-store sales declined 4.9%. The company closed underperforming stores, and was forced to cut its prices due to stronger competition from discount retailers, including Wal-Mart, which is selling more groceries in its stores.
The company lost $202 million, or $0.95 a share, in the latest quarter. If you exclude one-time items, including goodwill writedowns and costs related to the store closures, it would have earned $50 million, or $0.24 a share. That’s down 54.1% from $109 million, or $0.51 a share, a year earlier. The lower sales were the main reason for the earnings decline.
The company has paid down $1.0 billion of debt in the last year. Its remaining debt of $6.9 billion is 4.3 times its $1.6 billion market cap.
have a substantial investment in PGF.UN and about 12% profit todate. wonder if better to sell and repurchase after becoming a regular Corp. your urgent advise appreciated fdollinger@aol.com
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have a substantial investment in PGF.UN and about 12% profit todate. wonder if better to sell and repurchase after becoming a regular Corp. your urgent advise appreciated
fdollinger@aol.com
Hi Felix,
We updated PGF.UN in our latest issue of Canadian Wealth Advisor, which you have access to as an Inner Circle Member.
Just click the Newsletters tab on the top of your screen.
Thanks for your comment.
Pat McKeough