Kind of grim. From the release:
Total retail square footage was 63.5 million, a 2.1 percent decrease from the second quarter of fiscal 2011 primarily as a result of fiscal 2011 market exits. Excluding the impact of market exits and store closures, total retail square footage increased 1.8 percent compared to the second quarter of fiscal 2011.
Second quarter independent business net sales were $1.8 billion compared to $2.0 billion last year, a decrease of 5.8 percent, primarily attributed to Target’s transition to self-distribution and the divestiture of Total Logistic Control, which occurred in the fourth quarter of fiscal 2011.
But some optimism...
“Our 8 Plays to Win strategy is gaining traction and we remain on plan with our business transformation. Increased discipline and analytical tools are helping to advance hyper local retailing initiatives, which are starting to have a positive impact on our customers’ shopping experience,” said Craig Herkert, SUPERVALU’s chief executive officer and president. “While I am encouraged by our execution, I remain mindful of the challenging economy and its impact on consumer behavior. As we move into the second half of our fiscal year, SUPERVALU remains focused on its strategy and meeting the needs of its customers.”
Meanwhile, it seems the CSPI campaign against sugary pop is having no effect on Coke, as it reports growth in its quarterly sales released Oct. 18. I'm not the only one picking up Coke Zero; the company reports that Coke Zero volume grew by 12% in North America in the third quarter.