$SVU {{ '2016-10-17T12:58:10+0000' | timeago}} • Announcement

$SVU said Canada's Onex Corp will acquire its discount chain Save-A-Lot for $1.36Bil in cash. $SVU said it is offloading the business to focus on its core strengths and growth opportunities. The sale is expected to be completed by January 31, 2017.

$SVU {{ '2018-01-10T12:43:14+0000' | timeago}} • Announcement

For FY18, $SVU currently expects net earnings from continuing operations to be in the range of a loss of $20MM to and earnings of $2MM, which includes a non-cash charge of $35-45MM expected to be made in 4Q18 to reduce the carrying value of $SVU's net deferred tax asset in accordance with the newly enacted tax reform legislation.

$SVU {{ '2018-01-10T12:38:00+0000' | timeago}} • Announcement

On a segment basis, $SVU's 3Q18 Wholesale net sales increased 52% to $2.89Bil due to sales from the acquired Unified Grocers business, sales to new customers and increased sales to new stores. Retail net sales on the other hand declined 4.1% to $1.02Bil, impacted by identical store sales of negative 3.5% and closed stores.

$SVU {{ '2018-01-10T12:29:12+0000' | timeago}} • Announcement

Retailing company $SVU swung to profit in 3Q18 on higher sales and some tax benefits. Profit for the quarter was $26MM or $0.067 per share compared to a net loss of $26MM or $0.69 loss per share a year ago. Sales for the quarter jumped 31% to $3.94Bil. On an adjusted basis, $SVU earned $0.61 per share.

$SVU {{ '2017-12-11T12:15:23+0000' | timeago}} • Announcement

$SVU completed the previously announced transaction of Associated Grocers of Florida, Inc. The transaction valued at approx. $193MM, is the second acquisition the company made in 2017 as it expands its wholesale business.

$SVU {{ '2017-10-18T14:33:15+0000' | timeago}} • Announcement

$SVU agreed to buy Associated Grocers of Florida Inc. in a transaction valued at about $180MM. In addition, $SVU reached a long-term supply agreement with Associated Grocers' largest customer that will go into effect upon the closing of the transaction. The transaction is now expected to close by the end of calendar 2017.

$SVU {{ '2017-07-21T13:54:15+0000' | timeago}} • Announcement

$SVU announced a 1-for-7 reverse split of its common stock, effective as of Aug. 1, 2017. Beginning on Aug. 2, 2017, the company's common stock will trade on the NYSE on a split-adjusted basis. $SVU's stockholders authorized the BoD to amend the Restated Certificate of Incorporation to effect a reverse stock split at a ratio of 1-for-5 to 1-for-7.

$SVU {{ '2017-06-26T12:07:47+0000' | timeago}} • Announcement

Bruce Besanko, $SVU's COO and CFO to resign from his position effective July 5, 2017 to pursue an opportunity outside the company. Rob Woseth, $SVU's EVP and Chief Strategy Officer, will assume the additional position of Interim CFO and David Johnson, VP, Controller, will assume the additional position of Interim Chief Accounting Officer.

$SVU {{ '2017-06-26T10:53:06+0000' | timeago}} • Announcement

$SVU has completed the acquisition of Unified Grocers, Inc. for $390MM. It comprised $114MM in cash to Unified Grocers’ shareholders for 100% of the outstanding stock of Unified Grocers, plus the assumption and pay-off at closing of Unified Grocers’ net debt of approx $276MM.

$SVU {{ '2017-05-19T13:20:04+0000' | timeago}} • Announcement

$SVU said the U.S. Federal Trade Commission has granted early termination of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 with respect to $SVU's proposed acquisition of Unified Grocers. The acquisition is currently expected to close in late June.

$SVU {{ '2017-04-11T12:29:41+0000' | timeago}} • Announcement

$SVU to acquire Unified Grocers, Inc. for approx. $375MM, comprised of approx. $114MM in cash for 100% of the outstanding stock of Unified Grocers, plus the assumption and pay-off of Unified Grocers’ net debt at closing, which is approx. $261MM as of April 1, 2017. The transaction is expected to close in mid-to-late summer 2017.

$SVU {{ '2017-01-18T12:29:35+0000' | timeago}} • Announcement

$SVU announced that Anne Dament has been named SVP of Retail, Merchandising and Marketing effective immediately. In this role, Ms. Dament will lead the company's retail banner operations, oversee the retail merchandising and marketing functions, and report to Mark Gross, President and CEO.

$SVU {{ '2017-01-11T16:14:00+0000' | timeago}} • Webcast

$SVU stated that on deflation, the company is having a deflationary experience in both wholesale and retail. However, the company added that it has been able to overcome deflation in the wholesale side far more easily with its initiatives than on the retail side.

$SVU {{ '2017-01-11T16:07:33+0000' | timeago}} • Webcast

$SVU said that in terms of the use of the remaining proceeds from the Save-a-Lot (SL) transaction, it is going to have same priorities on use of cash that it has had earlier. The priorities has been to pay down debt and invest in pension obligations. $SVU added that it expects to use any remaining proceeds from the SL deal for those priorities.

$SVU {{ '2017-01-11T15:56:51+0000' | timeago}} • Webcast

$SVU said that on the wholesale competitive landscape, the business has been dominated by a couple of major players and smaller specialty. And on M&A opportunities, $SUV added that the company is open for business and is looking for opportunities to grow its wholesale business in every form.

$SVU {{ '2017-01-11T15:20:41+0000' | timeago}} • Webcast

$SVU stated that its identical store sales in 3Q17 were marginally better sequentially at negative 5.7%, as customer counts fell by 3.8% and avg. basket fell by 1.9%. The company added that its e-commerce initiatives are continuing to build momentum, as $SVU is closing in on 1MM digital accounts and has set a goal of 2MM accounts in FY18.

$SVU {{ '2017-01-11T12:46:42+0000' | timeago}} • Announcement

$SVU's retail net sales for 3Q17 fell 3.4% YoverY. The decrease reflects identical store sales of negative 5.7% and closed stores, partially offset by sales from acquired and new stores.

$SVU {{ '2017-01-11T12:42:54+0000' | timeago}} • Announcement

$SVU's wholesale net sales for 3Q17 rose 0.2% YoverY. The increase is primarily due to sales to new customers and increased sales to new stores operated by existing customers, partially offset by stores from the prior year no longer supplied by the company.

$SVU {{ '2017-01-11T12:41:12+0000' | timeago}} • Announcement

$SVU slipped to a 3Q17 loss from a profit last year, due to non-cash charges from pension settlement, goodwill impairment and store closures. Net loss was $26MM or $0.10 per share compared to a profit of $34MM or $0.13 per share last year. Net sales fell to $3Bil from $3.05Bil. Adjusted EPS from continuing operations slid to $0.05 from $0.08.

$SVU {{ '2016-12-06T13:08:13+0000' | timeago}} • Announcement

$SVU finalized on the sale of its Save-A-Lot business to an affiliate of Canada based Onex Corporation for $1.365Bil in cash. In connection with the closing of the sale, $SVU and Save-A-Lot have entered into a five-year professional services agreement pursuant to which the company will continue providing certain back office services to Save-A-Lot.

$SVU {{ '2016-10-17T13:00:55+0000' | timeago}} • Announcement

$SVU to sell its discount chain Save-A-Lot to Canada's Onex for $1.36Bil. $SVU expects to use the net proceeds from the sale to prepay at least $750MM against its outstanding term loan balance. The company intends to use the remaining net sale proceeds to further reduce debt. Barclays Capital & Greenhill & Co acted as financial advisors to $SVU.

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