EDEN PRAIRIE, Minn. – SUPERVALU INC. (NYSE: SVU) announced plans for a streamlined independent business organization. As part of the new structure, SUPERVALU’s independent business will consolidate from three regions to two regions, forming new East and West teams. The new East and West independent business regions will be located in Mechanicsville, VA and Hopkins, MN. To lead the new organizations, SUPERVALU has named Kevin Kemp president of the East region and Bill Chew president of the West region.
With this new independent business organization, SUPERVALU will streamline the organization and reduce operating costs while continuing to drive sales growth with its current and prospective customers. The changes also take into consideration the Company’s ongoing commitment to delivering excellent value, service and customer programs and offerings that meet the rapidly changing needs of its independent grocery store customers nationwide.
Initially, SUPERVALU anticipates reducing its employee workforce by approximately 200 positions throughout its independent business regional teams. Impacted employees will have an opportunity to apply for open positions within the new organization. The Company expects to fill approximately 120 new independent business jobs resulting in a net workforce reduction in its independent business organization as a result of this consolidation of approximately 80 positions. Employees who do not have employment with SUPERVALU going forward as a result of this workforce reduction will receive an offer of assistance related to this transition.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest grocery wholesalers and retailers in the U.S. with annual sales of approximately $17 billion. SUPERVALU serves customers across the United States through a network of 3,358 stores composed of 1,834 independent stores serviced primarily by the Company’s food distribution business, 1,334 Save-A-Lot stores, of which 954 are operated by licensee owners; and 190 traditional retail grocery stores. Headquartered in Minnesota, SUPERVALU has approximately 35,000 employees. For more information about SUPERVALU visit www.supervalu.com.
CAUTIONARY STATEMENTS RELEVANT TO FORWARD-LOOKING INFORMATION FOR THE PURPOSE OF “SAFE HARBOR” PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
Except for the historical and factual information contained herein, the matters set forth in this news release, particularly those pertaining to SUPERVALU’s expectations, guidance, or future operating results, and other statements identified by words such as "estimates," "expects," "projects," "plans," and similar expressions are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including competition, ability to execute initiatives, substantial indebtedness, impact of economic conditions, labor relations issues, escalating costs of providing employee benefits, regulatory matters, food and drug safety issues, self-insurance, legal and administrative proceedings, information technology, severe weather, natural disasters and adverse climate changes, tax matters, the continuing review of goodwill and other intangible assets, accounting matters, the effect of the sale of the New Albertsons banners, fluctuations in our common stock price and other risk factors relating to our business or industry as detailed from time to time in SUPERVALU's reports filed with the SEC. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this news release. Unless legally required, SUPERVALU undertakes no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise.
Source: Supervalu
