Supervalu Outlines Future Strategy

Minneapolis, Supervalu at its annual investor conference on Thursday outlined its "building blocks for the future," which include improving in-store execution, investing in the retail store network with the Premium Fresh & Healthy remodel program, deploying innovative merchandising programs, increasing the company's own brand program, and utilizing relevant marketing programs for maximum customer impact, the company reported.

Jeff Noddle, chairman and CEO of Supervalu noted that one of the company's key initiatives, the Premium Fresh & Healthy remodel program, while still in its early phase, has been generating good results with healthy sales increases well above overall identical-store sales growth.

"We are pleased with our early remodel performance and plan to maintain our commitment to the important remodel program, increasing our major remodels in fiscal 2009 to 165 stores, up from fiscal 2008's 125 store remodels," Noddle said.

The company also announced that Yolanda Scharton, the VP of investor relations and financial media will be leaving the company after more than eight years at the company. She will continue in her role until May 1 after which time she will consult with the company on special projects.

A search for her successor will commence immediately.