CEO Sam Duncan said this week that Supervalu’s focus would be to decentralize its retail banners, pricing at Save-A-Lot, and recharging its wholesale business. His comments came as the company announced its fiscal fourth quarter earnings, which were significantly affected by the costs associated with the recent sale of five banners to a group led by Cerberus Capital Management.
For the quarter, Supervalu lost $1.4 billion, but Wall Street seemed optimistic about the company, as the stock jumped about 10% after the announcement and has held its gains as of Friday afternoon.