Supervalu’s turnaround journey went sideways during the company’s latest quarter.
The Eden Prairie-based company’s crown jewel, its Save-A-Lot chain, showed solid sales growth. And Supervalu’s profits matched analysts’ expectations as cost cutting buoyed the bottom line.
Still, sales fell at its wholesale grocery operation as Supervalu lost two significant customers. And a key sales gauge for its traditional supermarkets, which include the Twin Cities’ Cub Foods, deteriorated from the previous quarter.
CEO Sam Duncan, who will mark a year at Supervalu Inc.’s helm next month, told analysts that Supervalu is improving on all fronts, including through such customer-friendly moves as lower prices at chains like Cub.
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