by IDAHO BUSINESS REVIEW
10/16/2006
Supervalu, which owns Idaho Albertsons stores and reported strong quarterly earnings last week, doesn’t appear to be impacting vendors — yet.
“We haven’t seen any big changes yet,” said Jerome Eberharter, founder and CEO of White Cloud Coffee, based in Garden City. “No doubt there will be some down the road. I think they’re still trying to get their arms around the communities they’re in.
“It’s a big deal to undertake,” he said. “As long as we can keep our sales strong and keep supporting them like with did with the old Albertsons, we should be OK.”
Eberharter said changes impacting Albertsons vendors could vary based on whether the vendor is dealing with stores owned by Supervalu or the Cerberus-led Albertons LLC — which doesn’t own Idaho stores but is based in Boise.
Scott Schoenherr of Rafanelli & Nahas hasn’t heard of any changes in the works among Albertsons vendors. His company’s River Quarry complex on ParkCenter Boulevard in southeast Boise houses Storecast Merchandising, Procter & Gamble and an Albertsons information technology group.
“They have not contacted us about downsizing,” he said. “We don’t see any scaling back.”
Calls to Albertsons vendors Dannon Yogurt, Procter & Gamble and Sara Lee weren’t returned immediately. All field Boise-area offices.
Supervalu reported its earnings nearly quadrupled in its second quarter because of its newly purchased Albertsons grocery stores, the Associated Press reported.
Chairman and CEO Jeff Noddle said the Albertsons purchase added to profit right away, not counting one-time costs from the acquisition, according to Associated Press.
Minnesota-based Supervalu said it earned $132 million, or 61 cents per share, in the three months ended Sept. 9, up from $34 million, or 24 cents per share, during the same period last year.
Sales more than doubled to $10.67 billion, up from $4.56 billion a year ago.
Analysts surveyed by Thomson Financial had expected earnings of 53 cents per share on revenue of $10.64 billion.
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