Supervalu reduces garbage expenses by 12%, plans more zero-waste stores
Eden Prairie, Minn. — Supervalu announced that its ongoing commitment to reducing waste culminated with a milestone in fiscal year 2011, marking the first time recycling revenues exceeded landfill waste expenses. In total, the company reduced garbage expenses by 12.6% over last year’s levels, while also conducting an aggressive cardboard recycling initiative that nearly doubled revenues from the previous year. The end result was the company’s waste and recycling program posted a profit to the company’s bottom line.
In related news, Supervalu announced plans to transition 40 stores under its Albertsons banner to zero-waste operations during the company’s current fiscal year, which ends on February 29, 2012.
The commitment comes as part of Supervalu’s release on Wednesday of its 2011 Corporate Social Responsibility Report, which highlights the company’s accomplishment of becoming the first retailer to achieve zero-waste classification at two of its Albertsons grocery stores in Santa Barbara, Calif., last November.
“We are aggressively seeking ways to build on our sustainability achievements from this past year,” said Andy Herring, executive VP, real estate, market development and legal. “While this year’s CSR report captures some of the excitement we shared in being the first food retailer to achieve zero waste in the U.S. at two of our California stores, we truly believe this is the tip of the iceberg for us.”
Supervalu’s additional zero waste stores will be located primarily in the Albertsons banner, while also expanding similar efforts across the enterprise. To achieve this recognition, stores must divert at least 90% of all waste from landfills — a feat accomplished in part through increased associate engagement, recycling, composting and the company’s Fresh Rescue food bank donation program, to which Supervalu contributed more than 60 million lbs. of food last year.
“Our commitment to significantly increase the number of zero waste stores is part of a long-term strategy for Supervalu to be a leader in the area of environmental sustainability,” said Herring. “At the same time, we are committed to these projects because we’ve also seen that they make a positive financial impact on our business, a true win-win.”
During the past year, Supervalu has compiled an impressive list of sustainability and social responsibility achievements, which are highlighted in the 2011 CSR Report.
Sam’s Club extends eValues for July Fourth push
BENTONVILLE, Ark.—Sam’s Club announced that all of its members can take advantage of its eValues program for savings on select items through July 4.
"Just in time for Independence Day, we are offering all members freedom to sample our eValues and find everything they need for the holiday," said Mike Turner, SVP membership at Sam’s Club. "From TVs and computers to hamburgers, cheese trays and pork barbecue, we are celebrating with summer savings.
Featured products and savings include:
$2 off Ground Chuck or Lean Ground Beef
$2 off Byron’s Pulled Pork Barbecue, 4 lbs.
$1 off Seedless Watermelon
$2 off Lattice Apple Pie
$2 off American Burger Classics Cheese Tray
$2 off Artisan Fresh® Chicken Sausage, 3 lbs.
$2 off Charmin Ultra Soft or Charmin Ultra Strong, 36 family rolls
Leonard Green buying BJ’s Wholesale for $2.8 billion
New York City — BJ’s Wholesale Club announced on Wednesday that it has agreed to be acquired by the private equity firms of Leonard Green & Partners and CVC Capital Partners (“CVC”) in an all-cash transaction valued at approximately $2.8 billion.
BJ’s, based in Westborough, Mass., has 190 stores in 15 states. The company said its board unanimously approved the buyout.
Under the terms of the agreement, BJ’s shareholders will receive $51.25 per share in cash for each share of BJ’s common stock they hold, representing an approximately 38% premium to the closing price of BJ’s shares on June 30, 2010, the day before LGP announced its 9.5% ownership stake in the company, and an approximately 7% premium to the closing price of BJ’s shares on June 28, 2011.
Laura Sen, president and CEO, stated, “BJ’s will benefit from the continued execution of our business plan and the significant retail expertise of our new partners at LGP and CVC, as well as from continued investments in our clubs, our people and technology, and the future of our business.”
The deal is expected to close in the fourth quarter, pending a vote by BJ’s shareholders.