Providing store managers with more authority is a step in the right direction, but Supervalu (Acme) has a long way to go.
From the Supermarket News story below:
“The loss for the 12-week quarter was $202 million, with sales down 5.9% to $8.7 billion, and identical-store sales in the retail food division falling 4.9%. For the year to date the loss was $1.6 billion, while sales fell 8% to $28.9 billion.
“Based on third-quarter results, Supervalu said it was lowering its financial guidance for the year, projecting a net loss in the range of $7.19 to $7.09 per share, with food sales likely to decline approximately 3.5% and ID sales to drop to negative 6%.”