Plans call for 165 major store remodels, and the opening of approximately 15 new traditional supermarkets and 55 to 65 limited assortment stores, including 30 licensed stores. A new city-oriented format, Urban Fresh by Jewel, will open in September in Chicago's Lincoln Park neighborhood.
"We are not changing the timing of any of our strategic initiatives," said Jeff Noddle, chairman and CEO. "Our remodeling program remains on track."
First quarter net sales were $13.3 billion flat compared with last year. Net earnings were a $162 million, up 9% from the previous year. Identical store sales declined 0.9%, excluding fuel.
Supervalu has approximately 2,475 retail grocery and pharmacy locations under the names Acme, Albertson's, bigg's, Bristol Farms, Cub Foods, Farm Fresh Food & Pharmacy, Hornbacher's, Jewel-Osco, Lucky, Shaw's, Star Market, Save-A-Lot, Shop 'N Save, Shoppers Food & Pharmacy and Sunflower Market.
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