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- RESEARCH & AWARDS
Supervalu, Inc., will continue to expand its selection of private label products, including adding 80 items to its Shopper’s Value label, the Eden Prairie, Minn.-based retailer reported Wednesday in a quarterly earnings call with analysts.
“Supervalu continues to expand its selection of value-oriented products. Into the second quarter, we have devoted more displays and shelf space to these items, including 10-for-$10 merchandise and entry-priced private label brand offerings like $1 pizzas. By the end of the fiscal year, we will have added 80 new items under our Shopper's Value label,” explained CEO Craig R. Herkert during the call.
The retailer plans to continue expanding on the value end of its private label portfolio in response to continued economic weakness and low consumer confidence
“Understanding the importance of price and value in today's environment, we are committed to narrowing the relative price gap that has evolved in some of the markets where we compete. Accordingly, we continue to invest in price on select items, categories and across specific markets, such as our new produce initiative in the
The retailer reported fiscal 2012 second quarter net earnings of $60 million compared with a net loss of roughly $1.5 billion in the same period last year. Sales for the fiscal 2012 second quarter reached $8.4 billion compared with sales of $8.7 billion in the same period last year.