Albertsons 2009 Annual Report Download - page 2

Net Sales
Retail
Supply Chain
Total Net Sales
52 Weeks Ended
February 23, 2008
53 Weeks Ended
February 28, 2009
Net Earnings (Loss)
Net Earnings (Loss) Per Diluted Share
Impairment and Other Charges per Share(1)
Adjusted Net Earnings Per Diluted Share(2)
Financial Highlights
(In Millions except per share data)
($2,855)
($13.51)
$16.40
$2.89
$593
$2.76
$0.21
$2.97
$1,550
$274
$1,684
$73
$1,757
($2,315)
$307
($2,157)
$3,762
$1,605
Operating Earnings (Loss)
Retail
Supply Chain
Total Operating Earnings (Loss)
Impairment and Other Charges(1)
Adjusted Operating Earnings(2)
$34,341
$9,707
$44,048
$34,664
$9,900
$44,564
Net Sales (In Billions)
2008 2009
$44.0
$44.6
34.3
9.7
34.7
9.9
Total Debt
(In Billions)
2008 2009
$8.833 $8.484
Adjusted Diluted
Earnings per Share
2008 2009
$2.97
$2.89
Supply Chain
Retail
(2)
Our mission at SUPERVALU always will
be to serve our customers better than anyone
else could serve them. We will provide our cus-
tomers with value through our products and
services, committing ourselves to providing
the quality, variety and convenience they ex-
pect.
Our success requires us to trust in our employ-
ees, respect their individual contributions and
make a commitment to their continued devel-
opment. This environment will allow us to at-
tract the best people and provide opportuni-
ties through which they can achieve personal
and professional satisfaction. We will strive to
be the best place to work in the industry.
Our commitment is to support the communi-
ties in which our employees and customers live
and work. We will use our time and resources
to preserve our role as a partner, neighbor and
friend.
Our responsibility to our investors is clear - con-
tinuous profit growth while ensuring our future
success. SUPERVALU will prosper through a
balance of innovation and good business de-
cisions that enhances our operations and cre-
ates superior value for our customers. Through
these actions, we will be the best place to in-
vest in our industry.
By pursuing these goals, SUPERVALU will
continue to build on our foundation as a
world-class retailer and distributor that values
long-standing ties with its constituents, and
conducts its business with integrity and ethics.
We will continue to foster strong relationships
with the diverse people and organizations with
whom we work. Through open communication
with our customers, employees, communities
and shareholders, we will adapt to changing
times while holding true to the fundamentals
that support both our growth and stability.
We shall pursue our mission with a passion for
what we do and a focus on priorities that will
truly make a difference in our future.
(1) Fiscal 2008 included one-time acquisition-related costs ($73 million pre-tax
or $0.21 per share); Fiscal 2009 charges included impairment charges required
by Statement of Financial Accounting Standards No. 142, “Goodwill and
Other Intangible Assets” ($3,524 million pre-tax or $15.71 per share), costs
related primarily to store closures ($200 million pre-tax or $0.58 per share),
settlement costs related to a pre-acquisition Albertsons litigation matter ($24
million pre-tax or $0.07 per share), and one-time acquisition-related costs ($14
million pre-tax or $0.04 per share).
(2) Comparison of GAAP to Non-GAAP Adjusted Financial Measures. The
Non-GAAP adjusted operating earnings and adjusted net earnings per di-
luted share are provided to assist in understanding the impact of the impair-
ment and other charges on actual results when compared with prior periods.
We believe that adjusting for the impairment and other charges will assist
investors in making an evaluation of our performance. This information should
not be construed as an alternative to the reported results, which have been
determined in accordance with accounting principles generally accepted in
the United States of America.