Supervalu Q2 profit plummets 42%
Minneapolis Grocery chain Supervalu reported Tuesday that its fiscal second-quarter profit dropped 42% on lower food prices, deep discounting to draw shoppers and previously announced store closings.
The operator of Albertsons and Jewel-Osco said it earned $74 million for the quarter, down from $128 million in the year-ago period.
Revenue fell 7.5% to $9.46 billion.
Craig Herkert, Supervalu’s CEO and president, said, “Consumer purchasing behavior, deflationary pressures, as well as our decision to make meaningful investments in price and promotions significantly impacted our second-quarter sales and margins.”
Herkert added that as the company moves into the last half of the year, it will focus on in-store execution and merchandising programs.
In the second quarter Supervalu completed 27 major remodels, four minor remodels and built one new traditional supermarket.
Walgreens, aVinci Media’s fight against breast cancer
DRAPER, Utah. Walgreens and aVinci Media have launched a national initiative to raise vital funds and awareness for breast cancer research and support.
On Oct. 7, Walgreens offered aVinci’s My Personal Movie slideshow DVDs, retail price $19.99, for $1. aVinci Media and Walgreens extended this offer to Oct. 8. 100% of the purchase price of this item was donated to the Susan G. Komen for the Cure and Breast Cancer Network of Strength and their missions in the fight against breast cancer. Over two days, more than $50,000 was raised for these organizations.
Chett Paulsen, CEO, aVinci Media, commented, “Each of us in someway has been personally impacted by breast cancer and our hope is that this donation-and more importantly the stories people tell-inspire, teach and provide hope for others to fight this widespread disease.”
Walgreens divisional merchandise manager Mona Kelly noted, “This initiative is one way we give back to our valued customers and provide the much needed support for this important cause.”
Fujitsu Computer Products of America names new CEO
SUNNYVALE, Calif. Fujitsu Computer Products of America announced the appointment of Etsuro Sato as president and CEO, and named Victor Kan EVP and COO.
Effective immediately, Sato will lead Fujitsu Computer Products of America forward in its next phase of development.
“Fujitsu has always been committed to creating success for our customers and partners and that has been evident in our proud history of innovation in the industry,” said Sato. “I am excited to lead Fujitsu Computer Products of America forward at a time when there are tremendous opportunities and technology advancements in the document imaging industry.”
Sato brings more than 30 years of experience to his new leadership position at Fujitsu Computer Products of America. Sato joined Fujitsu as VP Imaging Products Group, where he directed the management of the scanner and service lines for the United States and Latin America, which includes the sales, marketing, engineering and customer support departments. Previously, Sato was director of business development marketing, system products group, Fujitsu Computer Systems, where he was responsible for business planning and operation strategies.