Albertsons 2013 Annual Report Download - page 2

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Dear SUPERVALU Stockholders,
In the last quarter of fiscal 2013, SUPERVALU announced that it would
sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market stores and
related Osco and Sav-on in-store pharmacies in a deal valued at $3.3
billion. This transaction closed on March 21, 2013 and marked another
important milestone and new chapter in our company’s history.
As a result, SUPERVALU enters fiscal 2014 as a much different company:
฀•฀Independent฀Business฀will฀be฀our฀largest฀reportable฀segment฀in฀
terms of sales.
฀•฀Retail฀Food,฀although฀smaller,฀has฀approximately฀190฀strong฀
฀ ฀฀฀traditional฀grocery฀stores฀spread฀across฀ve฀regional฀banners.
฀•฀Save-A-Lot฀continues฀to฀be฀our฀market-leading฀hard฀discount฀format฀with฀more฀than฀1,300฀
฀ ฀฀฀stores฀and฀considerable฀opportunities฀for฀growth.
Although฀I฀took฀over฀as฀president฀and฀chief฀executive฀ofcer฀in฀early฀February,฀I฀spent฀nearly฀seven฀
months฀studying฀the฀company฀and฀visiting฀with฀many฀of฀our฀independent฀retailers฀and฀Save-A-Lot฀
licensees,฀as฀well฀as฀touring฀all฀of฀our฀retail฀banners.฀฀I฀am฀well฀versed฀on฀the฀company฀and฀continue฀to฀
be฀impressed฀with฀our฀operations฀and฀the฀opportunities฀we฀have฀to฀improve฀our฀operating฀results฀and฀
increase shareholder value.
The฀stores฀served฀by฀our฀independent฀business฀organization฀are฀operated฀by฀some฀of฀America’s฀most฀
innovative฀and฀successful฀retailers฀who,฀collectively,฀have฀the฀desire฀to฀continue฀to฀grow.฀฀We฀have฀a฀
clear฀understanding฀of฀the฀support฀they฀need฀from฀us฀–฀as฀their฀business฀partner฀-฀and฀are฀implementing฀
the฀necessary฀changes฀that฀will฀help฀them฀achieve฀these฀goals.
Our฀ve฀retail฀food฀banners฀are฀competitively฀well฀positioned฀in฀their฀respective฀markets.฀฀We฀are฀now฀
in a position to provide these banners with more support and opportunities to make these stores even
more฀appealing฀to฀our฀customers฀and฀increase฀sales.฀The฀leaders฀of฀each฀of฀our฀banners฀know,฀very฀
specifically, what we want to accomplish and have plans in place to achieve success.
Lastly,฀Save-A-Lot฀remains฀a฀great฀opportunity฀for฀us.฀฀Its฀new฀leadership฀team฀recognizes฀that฀we฀need฀
to฀alter฀parts฀of฀our฀go-to-market฀strategy฀and฀are฀working฀to฀implement฀some฀much-needed฀changes.฀฀
I฀am฀optimistic฀we฀can฀generate฀improved฀operating฀results฀and฀set฀the฀foundation฀for฀future฀growth.
Fiscal฀2014฀will฀be฀a฀transition฀year฀as฀we฀–฀in฀many฀respects฀–฀reset฀the฀business.฀฀But฀we฀do฀have฀
ambitious฀plans฀to฀move฀the฀company฀forward,฀improve฀our฀balance฀sheet,฀and฀generate฀meaningful฀
returns for our stockholders. You have my commitment that we will stay focused on the most important
priorities necessary to successfully rebuild this company. Thank you for your support and I look forward
to฀updating฀you฀on฀our฀progress.
Sam Duncan
President฀and฀Chief฀Executive฀Ofcer
• Certicate replacements
• Account Maintenance
• Transfer of shares
• Name or address change
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