President and CEO Mike Duke said some pricing and merchandising issues in Walmart "ran deeper than initially expected".
Discount grocery chain and Supervalu subsidiary Save-A-Lot is opening five new stores in Chicago's South Side, almost doubling its presence in the area. The openings bring its operations in the area to 13 and it plans to open stores in five additional locations in greater Chicago by February 2012.
"Chicago has long been a priority market for us," said Save-A-Lot CEO and president Bill Shaner. "These locations are a perfect match with our strategy of bringing affordable grocery and more fresh food options to neighbourhoods with few existing grocery stores."
"2010 was an extraordinary year due to the substantial excise duty increase in our largest market," said group CEO Jørgen Buhl Rasmussen.