SUPERVALU Poor Quarterly Results Drag Down Shares of Kroger and Roundy's
The Paragon Report Provides Stock Research on Kroger and Roundy's
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 07/13/12 -- Shares of grocery stores fell sharply Thursday after SUPERVALU Inc. reported it was suspending its quarterly dividend and was "reviewing strategic alternatives for our business." Shares of the company plummeted over 45 percent in Thursday trading. The Paragon Report examines investing opportunities in the Grocery Stores Industry and provides equity research on The Kroger Co. (NYSE: KR) and Roundy's Inc. (NYSE: RNDY).
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After the recession in 2008 more and more consumers have turned to discount stores like Wal-Mart for their groceries. SUPERVALU's CEO Craig Herkert on a recent call with analysts said that dollar-store chains have begun to take away more customers.
"Given the economic situation the American consumer is in, a lot of grocery competitors are focused on making sure they have the right value proposition for customers," Herkert said on the call. "We needed to accelerate our ability to play in that game."
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The Kroger Co. last month reported total sales, including fuel, increased 5.8% to $29.1 billion in the first quarter of fiscal 2012 compared with $27.5 billion for the same period last year. In the first quarter, which ended May 19, 2012, total sales, excluding fuel, increased 4.3% over the same period last year. Shares of the company dropped nearly 4 percent on Thursday.
Roundy's is a leading grocer in the Midwest with nearly $4.0 billion in sales and more than 18,000 employees. The company reported net sales for the first quarter of 2012 were $938.2 million, an increase of $22.2 million, or 2.4%, from $916.0 million for the first quarter of 2011. Same-store sales decreased 2.1% from the prior year due to continued weakness in the consumer environment and the effect of competitive store openings. Shares of the company fell over 7 percent Thursday.
The Paragon Report has not been compensated by any of the above-mentioned publicly traded companies. Paragon Report is compensated by other third party organizations for advertising services. We act as an independent research portal and are aware that all investment entails inherent risks. Please view the full disclaimer at:
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Datum: 13.07.2012 - 12:20 Uhr
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