RBC Capital Cuts Price Target on SUPERVALU (SVU) to $6; Reiterates Sector Perform
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SUPERVALU Comments on Full Year Outlook
September 8, 2016 6:45 AM EDTMINNEAPOLIS--(BUSINESS WIRE)-- SUPERVALU INC. (NYSE: SVU) today announced that it is lowering its outlook for full-year adjusted EBITDA(1). Although recently announced new business in its Wholesale segment is expected to begin to positively contribute to results later this fiscal year, second quarter business performance in its Retail and Save-A-Lot segments has been softer than previously anticipated. Full year adjusted EBITDA(1) is now expected to be approximately 5.0% lower than last year.
Commenting on the outlook for fiscal 2017, President and CEO Mark Gross said, Although we are seeing softness in... More
