Supervalu has issued a brief statement today reaffirming that it is preparing for a separation of its Save-A-Lot business.
The group said that as part of that process, it “has pursued and continues to pursue a spin-off of Save-A-Lot”. However, it noted that it is also “prepared to consider other alternatives to improve stockholder value”, and is therefore simultaneously considering a sale of the banner.
Save-A-Lot is one of the main bright points for Supervalu in recent quarters, as the group continues to struggle in a tough market. The retailer has been considering a divestment or sale for some time, with constant speculation surrounding the move.
Supervalu added that it “does not intend to update this statement … unless and until a definitive transaction agreement is entered into.” It also reiterated that there is no surety that it will spin off or sell Save-A-Lot.
Separately, the group announced that it would install Oracle Cloud as its new technology platform, saying the move would offer it “a more robust infrastructure and a comprehensive solution that we believe will help us drive increased efficiencies, speed decision-making, and enhance the overall customer experience”.
The initial installation will see the implementation of Oracle’s HR and enterprise resource management clouds to help Supervalu customers hire and retain top talent, as well as improve process integration and reporting.
- In other words, if the price is right…
- In which case, time for suppliers to check out any prices/terms disparities?