Shares of the Eden Praire-based grocery retailer fell to an all-time low Thursday following news late Wednesday the company is exploring options that include putting itself up for sale. Supervalu is the third largest grocery company in the country, but has not turned an annual profit in three years.
Walz wants to use surplus money to send direct payments to Minnesotans
It's a renewed effort from a previous proposal from Walz and Lt. Gov. Peggy Flanagan's supplemental budget in January.
Jan. 6 committee says aide for WI senator tried to give fake elector info to Pence
The attempt was discovered through text messages in the ongoing public hearing held by the Jan. 6 select committee.
Minnesota state colleges boosting tuition again by 3.5%
The Minnesota State system's Board of Trustee's approved the increase Wednesday.
Walz, Jensen react to historic Supreme Court reversal of Roe v. Wade
After voting to overturn Roe, conservative Justice Clarence Thomas has hinted contraception and same-sex marriage protections should follow.
2-year-old killed in crash on County Road 81 in Maple Grove
The crash occurred Thursday evening on County Road 81.
BCA issues new details about St. Michael standoff, shooting
New details say a St. Cloud police officer struck the suspect with gunfire.
92-year-old driver killed in rural Scott County crash
The crash happened around 12:30 p.m. Thursday.
Big-time rain totals flood Highway 10 in central Minnesota
More rain and storms are expected Friday and Saturday morning.
Charges: Driver had just left local bar before deadly Shakopee crash
Witnesses said they were unable to help the 19-year-old Eden Prairie man who died in the crash after becoming trapped.
Thunder selects Chet Holmgren 2nd overall in NBA Draft
The Minneapolis native becomes the highest-drafted Minnesotan in NBA history.
One airlifted after crash on rural Scott County highway
The State Patrol shut down Highway 282 in both directions Thursday afternoon.
Supervalu offers top execs retention pay, options
The struggling Eden Prairie-based supermarket chain is trying to "retain and motivate key employees." Earlier this month, Supervalu suspended its dividend and is considering a sale of its operations. A regulatory filing shows CEO Craig Herkert, CFO Sherry Smith, executive vice president Janel Haugarth and EVP Andrew Herring were awarded non-qualified stock options and retention agreements as long as they stay with the company through 2014.
Supervalu to open books for potential buyers
The troubled Eden Prairie-based grocery-store chain is expected to provide prospective buyout firms financial information later this week, the Wall Street Journal reports. Last week, Supervalu hired Goldman Sachs to explore selling either part or all of its supermarket operations after it reported a plunge in quarterly profit.
Supervalu posts another grim quarter, hints at potential buyers
Supervalu Inc., owner of Cub Foods and other prominent chains, has posted a loss of $111 million in its fiscal second quarter, compared to a profit of $60 million a year earlier, the Star Tribune reports. The struggling Eden Prairie-based supermarket chain also reported its same-store sales fell 4.3 percent from the same period a year ago.
Supervalu eliminating up to 2,500 positions in California, Nevada
Eden Prairie-based Supervalu said it will reduce its workforce by cutting supermarket-level jobs at its Albertson's stores in California and Nevada. Albertsons is the largest retail subsidiary of the Supervalu, with 247 stores in the western United States. Supervalu owns a dozen supermarket chains, including Cub Foods in the Twin Cities.
Supervalu fires CEO, names replacement
Supervalu has pushed out CEO Craig Herkert from the struggling Eden Prairie-based supermarket chain, the Associated Press reports. Chairman Wayne Sales will take on the roles of president and chief executive officer as Supervalu explores a possible sale of its operations following disappointing quarterly results.
Supervalu to sell Midwest distribution center in Wisconsin
Eden Prairie-based Supervalu Inc. has inked a deal to sell its supermarket distribution center near Kenosha, Wis., to Meijer Inc., a Michigan-based retailer and grocer, the Milwaukee Journal Sentinel reports. Terms of the deal were not released. Supervalu is set to move out of the 580,000-square-foot facility by 2013.
Minnesota-based Supervalu cuts 50 jobs in IT restructuring
About 50 Supervalu employees in information technology are losing their jobs at the company's corporate campus in Eden Prairie. The move Wednesday follows the ousting of chief executive officer Craig Herkett earlier this week, and the loss 200 local white-collar jobs announced by Supervalu in February.
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