Supervalu restructures management under new CEO

Eden Prairie-based Supervalu is restructuring its management team in attempt to make a comeback. The grocery store chain is up against tough competition and recent attempts to attract shoppers with lower prices have not been successful. Late last month, the chain fired its CEO just weeks after reporting a dismal fiscal first quarter.
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Eden Prairie-based Supervalu is restructuring its management team in attempt to make a comeback. The grocery store chain is up against tough competition and recent attempts to attract shoppers with lower prices have not been successful. Late last month, the chain fired its CEO just weeks after reporting a dismal fiscal first quarter.

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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 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 plans to lay off 700 in New England

Eden Prairie-based Supervalu will cut about 700 grocery store jobs at its Shaw's and Star Market subsidiary stores in New England, two weeks after it posted a loss for the second quarter and said it was considering selling the company, the Associated Press reports.

Caribou partners with Supervalu-owned chain

The Brooklyn Center-based coffee chain plans to open locations in select Jewel-Osco stores in the Chicago area, the Pioneer Press reports. Caribou also plans to introduce its premium packaged coffee throughout the Supervalu-owned grocery chain.

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.

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.

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 shares leap amid buyout buzz

Shares of Minnesota-based Supervalu jumped 38 percent on Monday after an analyst upgraded the stock due to the possibility that the grocery store chain might be bought out, the Star Tribune reports.