The retailer is launching the Small Business Economic Mobility initiative, a five-year investment in small business growth through increased access to capital and borrower education.
U.S. consumer spending fell by $8.1 billion, or 0.1%, in April 2014. It was the first monthly decline in consumer spending since April 2013 and followed a 1% increase of $117.6 billion the previous month.
An IRI MarketPulse survey found that shopper sentiment dropped in fourth quarter 2013, and this gloomy attitude is spilling over into 2014 across all age groups.
Supervalu successfully completed the refinancing of its existing $1.5 billion senior secured term loan agreement.