SUPERVALU INC. (SVU) has reported a 41.86 percent jump in profit for the quarter ended Jun. 20, 2015. The company has earned $61 million, or $0.23 a share in the quarter, compared with $43 million, or $0.17 a share for the same period last year. Revenue during the quarter went up marginally by 2.72 percent to $5,407 million from $5,264 million in the previous year period. Gross margin for the quarter expanded 64 basis points over the previous year period to 14.98 percent. Total expenses were 97.08 percent of quarterly revenues, down from 97.44 percent for the same period last year. This has led to an improvement of 36 basis points in operating margin to 2.92 percent.
Operating income for the quarter was $158 million, compared with $135 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $246 million compared with $226 million in the prior year period. At the same time, adjusted EBITDA margin improved 26 basis points in the quarter to 4.55 percent from 4.29 percent in the last year period.
"We delivered sales increases across all three business segments and managed our costs very well in this first quarter," said president and chief executive officer Sam Duncan. "I"m pleased with our bottom line and ability to manage to these results in spite of softer sales at Save-A-Lot and in our Retail Food stores. We have plans in place and operationally we remain well positioned."
Operating cash flow improves significantly
SUPERVALU INC. has generated cash of $112 million from operating activities during the quarter, up 96.49 percent or $55 million, when compared with the last year period.
The company has spent $70 million cash to meet investing activities during the quarter as against cash outgo of $32 million in the last year period. It has incurred capital expenditure of $48 million on net basis during the quarter, up 45.45 percent or $15 million from year ago period.
The company has spent $19 million cash to carry out financing activities during the quarter as against cash outgo of $18 million in the last year period.
Cash and cash equivalents stood at stood at $137 million as at Jun. 20, 2015.
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