SUPERVALU INC (SVU) has reported 236.52 percent jump in profit for the quarter ended Feb. 25, 2017. The company has earned $599 million, or $2.23 a share in the quarter, compared with $178 million, or $0.66 a share for the same period last year. Revenue during the quarter plunged 83.42 percent to $2,907 million from $17,529 million in the previous year period. Gross margin for the quarter was at 14.96 percent.
Operating income for the quarter was $35 million, compared with $454 million in the previous year period.
However, the adjusted EBITDA for the quarter stood at $124 million.
"We finished fiscal 2017 with momentum in our Wholesale business and an improved balance sheet resulting from the sale of Save-A-Lot,” said President and Chief executive officer Mark Gross. “I’m very excited about our agreement to acquire Unified Grocers as it brings together two great companies to create one of the nation’s leading grocery wholesale organizations. At the same time, we are working to fundamentally improve the shopping experience in our retail stores and with new leadership and renewed passion we are focused on changing our operating results. I remain optimistic for growth and believe strongly in the path our team is pursuing to achieve it.”
Operating cash flow declines
SUPERVALU INC has generated cash of $361 million from operating activities during the year, down 14.86 percent or $63 million, when compared with the last year. Cash flow from investing activities was $1,021 million from investing activities during the year as against cash outgo of $288 million in the last year. It has incurred net capital expenditure of $178 million on net basis during the year, up 14.10 percent or $22 million from year ago.
The company has spent $1,107 million cash to carry out financing activities during the year as against cash outgo of $193 million in the last year period.
Cash and cash equivalents stood at $332 million as on Feb. 25, 2017, up 482.46 percent or $275 million from $57 million on Feb. 27, 2016.
Working capital increases sharply
SUPERVALU INC has recorded an increase in the working capital over the last year. It stood at $312 million as at Feb. 25, 2017, up 395.24 percent or $249 million from $63 million on Feb. 27, 2016. Current ratio was at 1.25 as on Feb. 25, 2017, up from 1.04 on Feb. 27, 2016.
Debt comes down significantly
SUPERVALU INC has recorded a decline in total debt over the last one year. It stood at $1,475 million as on Feb. 25, 2017, down 41.56 percent or $1,049 million from $2,524 million on Feb. 27, 2016. Total debt was 41.20 percent of total assets as on Feb. 25, 2017, compared with 57.76 percent on Feb. 27, 2016. Disclaimer: Please note that this is an auto-generated article. IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website. For queries contact: [email protected]
