Minneapolis, MN -- April 2, 2002 -- SUPERVALU INC. (NYSE: SVU) announced today that Save-A-Lot, its extreme value grocery chain, will celebrate the opening of its 1,000th store on Thursday, April 4, at its new Waterbury, Conn., store. In addition to the local celebration, Save-A-Lot stores nationwide will celebrate this milestone with a national television and cable advertising campaign as well as a variety of in-store promotions.
Jeff Noddle, SUPERVALU's president and chief executive officer, said, "With the opening of our 1,000th store, we mark a milestone as we set the stage for the next phase of growth. Clearly, Save-A-Lot is a border-to-border, coast-to-coast opportunity. We are very pleased that our breakthrough retail concept effectively serves our targeted niche of consumers. This customer demographic represents a sizable portion of the U.S. population and provides Save-A-Lot the national landscape to aggressively expand its network."
"Save-A-Lot's down-to-earth, but highly disciplined format has struck a chord with millions of customers who are seeking the greatest value for their grocery dollar, week in and week out," said Bill Moran, president, CEO and founder of Save-A-Lot. "Save-A-Lot is the largest extreme value grocery retailer in the nation. By carrying only the most popular size and variety of each item, we simplify the shopping experience for our customers, respect their time, and help them stretch their financial resources."
As of February 23, 2002, Save-A-Lot operated 998 stores, of which 764 stores were licensed stores. With stores in 36 states, Save-A-Lot is supported by 13 distribution centers – soon to be 14 with the opening of the Wisconsin distribution center later this month. Successfully operating in both urban and rural markets for more than two decades, Save-A-Lot practically invented the extreme value retail concept. Recently entering the Gulf Coast, Chicago and New York City markets, Save-A-Lot intends to open at least 100 new stores each year.
With annual revenues in excess of $20 billion, SUPERVALU holds leading market share positions with its 1,260 retail grocery locations, including licensed Save-A-Lot locations. Through its Save-A-Lot format, the company holds the number one market position in the extreme value grocery retailing sector. SUPERVALU's retail store network also consists of 202 price superstores including Cub Foods, Shop 'n Save, Shoppers Food Warehouse, Metro and bigg's stores; and 60 conventional supermarkets including Farm Fresh, Scott's Foods and Hornbacher's stores. In addition, through SUPERVALU's geographically diverse distribution centers, the company provides distribution and related logistics support services across the nation's grocery channel. At year-end, SUPERVALU had approximately 57,800 employees.
Forward-looking statements in this news release, if any, are made under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Certain important factors could cause results to differ materially from those anticipated by such forward-looking statements, including the impact of competition, the nature and extent of the consolidation of the retail food and food distribution industries, the ability to attract and retain customers for the company's food distribution operations and to control food distribution costs, the execution of restructuring activities, the availability of favorable credit and trade terms, food price changes, general economic or political conditions that affect consumer buying habits generally or acts of terror directed at the food industry that affects consumer behavior, other risk factors inherent in the food distribution and retail businesses and other factors discussed from time to time in reports filed by the company with the Securities and Exchange Commission.
Dan Kimack, manager of Corporate Communications