SUPERVALU Inc., Minneapolis, announced it will close approximately 60 underperforming or nonstrategic stores this fiscal year, including 38 in its retail food reporting segment and 22 Save-A-Lot locations. The majority of the stores are expected to close before Dec. 1, 2012, the end of the company’s fiscal 2013 third quarter.
“These decisions are never easy because of the impact a store closure has on our team members, our customers and our communities,” says Wayne Sales, SUPERVALU’s president, CEO and chairman. “Today’s announcement reflects our commitment to move with a greater sense of urgency to reduce costs and improve shareholder value.”