CHICAGO — Supervalu detailed its strategic plan to deliver profitable growth in the future for shareholders at an investor event May 3.
Commenting on the company’s plans, Supevalu CEO and president Craig Herkert said, “We are focused on acting as one company, working toward a common goal of delivering increased value to all of our customers and meeting their needs neighborhood by neighborhood.”
In a company press release, Supervalu said its senior management team discussed efforts to improve sales growth at the company's traditional retail banners. In order to accomplish this, Supervalu said it would have to improve promotion of its value pricing, enhance such fresh offerings as locally grown produce, develop and maintain a compelling collection of private brands, which will be folded into the company's Essential Everyday private-label line, adjust store assortment and format based on the needs of each neighborhood, and improve the customer experience in stores and online.
One of Supervalu's long-term goals is the national expansion of its Save-A-Lot banner. The company said it intends to grow this banner by 160 new stores in fiscal 2012, keeping the company on track to reach its goal of building a network of more than 2,400 stores by 2015.
During the meeting, the company also announced the addition of the Save-A-Lot Today brand to its private-label program. The new Save-A-Lot Today brand is an opening price point line with most products priced under $1.