The Twin Cities-based company had planned to open 160 new supermarkets around the country. Instead it will open about half that number and sink the remaining money into remodeling existing stores. Wall Street analysts approve.
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.