ADVFN - Advanced Financial Network.
HOME» NYSE » S » SVU Stock Price » SVU Stock News

Supervalu Share News

 Supervalu Stock Price
SVU Stock Price
 Supervalu Stock Chart
SVU Stock Chart
 Supervalu Stock News
SVU Stock News
 Supervalu Company Information
SVU Company Information
 Supervalu Stock Trades
SVU Stock Trades

Supervalu To Cut 800 Office Jobs By Feb 25 In Turnaround Effort

DOW JONES NEWSWIRES Supervalu Inc. (SVU) plans to eliminate about 800 corporate and regional office jobs by Feb. 25 as the supermarket operator continues its efforts to reduce overall operating costs. The company currently has about 135,000 employees and said the reductions will include both current positions and open jobs that won't be filled. Supervalu, whose brands include Albertsons, Save-A-Lot and Shaw's, has struggled with rising food costs and competition from lower-price rivals such as Kroger Co. (KR) and Safeway Inc. (SWY). Hoping to reverse persistent same-store sales declines, the company has been cutting costs and lowering grocery prices. "These reductions are necessary to help further strengthen and accelerate Supervalu's business turnaround in a very competitive marketplace," said Chief Executive and President Craig Herkert. Supervalu reported last month its fiscal third-quarter loss widened on larger writedowns and weaker sales, causing the company to lower its fiscal 2012 guidance for the second quarter in a row. And later that month, Fitch Ratings downgraded Supervalu's issuer default rating to B, one notch further into junk territory, citing the supermarket operator's continued sales declines, market share losses and pressured margins. -By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com

Stock News for Supervalu (SVU)
DateTimeHeadline
10/16/201409:44:37U.S. Hot Stocks: Hot Stocks to Watch
09/30/201416:41:17MARKET SNAPSHOT: U.S. Stocks Limp Into October
09/30/201413:01:03MARKET SNAPSHOT: U.S. Stocks Rebound; Dow Flat Over Month
09/30/201410:26:25MARKET SNAPSHOT: Weak Housing Data Helps Push U.S. Stocks Lower
09/30/201407:18:21MARKET SNAPSHOT: U.S. Stocks: Futures Up Ahead Of Home Prices...
08/28/201414:04:53FBI Probes Possible Hacking Incident at J.P. Morgan -- 3rd Update
08/27/201417:46:19FBI Probes Possible Hacking Incident at J.P. Morgan -- 2nd Update
08/18/201412:22:47Banks, Retailers Speed Up Drive to Add Chips to Credit, Debit...
08/14/201421:30:10Supervalu Investigating Potential Data Breach
01/13/201417:34:52Supervalu Chairman Stepping Down
01/09/201408:04:32Supervalu Net Rises on Save-A-Lot Growth
11/15/201309:19:36Omega Advisors 3Q 13F: Largest Sales
11/15/201309:19:36Omega Advisors 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:18:02OZ Management LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201309:17:55OZ Management LP 3Q 13F: Largest Sales
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30
11/15/201308:53:17D. E. Shaw & Co. LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201308:41:19JANA Ptnrs 3Q 13F: Holdings As Of Sep 30
11/15/201308:27:47S.A.C. Capital Advisors LP 3Q 13F: Holdings As Of Sep 30

Supervalu and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad