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Books-A-Million sales slip in Q4
Birmingham, Ala. -- Books-A-Million reported Wednesday a profit of $8.1 million for the fourth quarter, up slightly from $7.6 million a year earlier.
Sales dipped 0.8% to $165.6 million, and same-store sales dropped 6.1%.
For the full year, the retailer swung from a loss of $4 million to a profit of $2.5 million. Revenue rose 7.5% to $503.8 million. -
Supervalu cutting about 1,100 jobs
Minneapolis -- Supervalu announced plans to eliminate about 1,100 positions nationwide, or about 3% of its national workforce. The reductions include both current positions and open jobs that will not be filled.
The news comes less than a week after Supervalu completed the sale of five of its grocery banners, including Albertson’s and Shaws/Star Markets. The company said the sale of the five chains means that the remaining business will need "significantly fewer" corporate and store support roles and functions.