Dive Brief:
- Supevalu reported net income of $40 million in the most recent quarter. That's a dramatic improvemet from the $111 million the retailer lost in the same quarter last year.
- Supervalu sold its five largest supermarket chains -- Albertson's, Acme, Jewel-Osco, Shaw's and Super Markets -- to a private equity investment group in January.
- Today's Supervalu is less than half the size it was in 2012, and operates 191 stores under brands such as Cub and Save-a-Lot.
Dive Insight:
It's hard to imagine that Supervalu has been able to turn itself around so quickly, but the company has done exactly that. Even Wall Street analysts, who expected earnings of 11 cents per share excluding one-time items, were surprised by the 13 cents per share Supervalu reported. Someone -- presumably new CEO Sam Duncan -- appears to know what he's doing.