Save-A-Lot exec departure sign of spinoff

Save-A-Lot's Ritchie Casteel announced he would be leaving his post as president on March 11, and parent company Supervalu (NYSE:SVU) said it has no plans to hire a replacement.

It's a sign that Supervalu could be planning to spin off the value-price chain.

Supervalu said in July it was exploring "strategic alternatives" for the chain. It added Eric Claus as CEO in January and tasked him with separating Save-A-Lot from its parent company.

Save-A-Lot operates roughly 1,340 stores in the United States. Supervalu has shifted in the past few years from a wholesale operation with several grocery banners, to one focused primarily on its wholesale business after selling off four of its biggest supermarket banners.

For more:
-See this Progressive Grocer story
-See this St. Louis Business Journal article

Related stories:
Supervalu names new CEO
Supervalu moving toward Save-A-Lot spin-off
Save-A-Lot gets new CEO
Save-A-Lot testing customized stores by ethnicity
Supervalu's future lies in wholesale

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