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Supervalu considers spinning off its best banner
Minneapolis – Supervalu Inc. beat Wall Street expectations for profit in the first quarter of fiscal 2016 and also announced it is considering spinning off its Save-A-Lot grocery banner. Net earnings soared 42% to $61 million, from $43 million in the same quarter the prior fiscal year.
Cost of sales rose at a slower pace than net sales, aiding profit growth. Net sales rose 3% to $5.41 billion, from $5.26 billion.
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Supervalu may spin off Sav-A-Lot
Supervalu Inc. said it is considering spinning off its Sav-A-Lot stores into a separate business as the discount chain reported a big earnings increase for the first quarter.
Net earnings soared 42% to $61 million, from $43 million in the same quarter the prior fiscal year. Cost of sales rose at a slower pace than net sales, aiding profit growth. Net sales rose 3% to $5.41 billion, from $5.26 billion.

