Grocery retailer SUPERVALU Inc. has seen an 8.48% rally in share price on Jul 6, after it inked a long-term supply agreement with Indianapolis, IN-based grocery wholesaler Marsh Supermarkets. Under the agreement, which is scheduled to be completed by the end of September, SUPERVALU will provide certain professional services to the grocery chain.
SUPERVALU, a Zacks Rank #2 (Buy) stock, will supply Marsh Supermarkets and O’Malia Food Markets with traditional products such as meat, deli, bakery, seafood, grocery, frozen foods and dairy. Additionally, SUPERVALU will lend merchandising support to Marsh Supermarkets through advanced merchandise planning, retail pricing analysis and shelf management programs.
We believe that this is a win-win deal for both the parties as SUPERVALU will gain access to 70 supermarkets across Indiana and Ohio as well as 38 pharmacy locations where Marsh Supermarkets presently operates. On the other hand, Marsh Supermarket’s customers will advantage from SUPERVALU’s popular grocery brands like Wild Harvest, Culinary Circle and Essential Everyday.
Also, the deal comes at a good time as SUPERVALU is scheduled to dispose off of its Save-A-Lot stores this fall. SUPERVALU has been reporting lower earnings for the past few quarters due to a substantial reduction in profits. The company's sales have also been declining due to lower comps. However, the recent contract with Marsh Supermarkets may turn around things for SUPERVALU.
Other Stocks that Warrant a Look
Other favorably ranked stocks in the food/ miscellaneous sector include The J. M. Smucker Company (SJM - Free Report) , Post Holdings Inc. (POST - Free Report) and United Natural Foods Inc. (UNFI - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
Grocery retailer SUPERVALU Inc. has seen an 8.48% rally in share price on Jul 6, after it inked a long-term supply agreement with Indianapolis, IN-based grocery wholesaler Marsh Supermarkets. Under the agreement, which is scheduled to be completed by the end of September, SUPERVALU will provide certain professional services to the grocery chain.
SUPERVALU, a Zacks Rank #2 (Buy) stock, will supply Marsh Supermarkets and O’Malia Food Markets with traditional products such as meat, deli, bakery, seafood, grocery, frozen foods and dairy. Additionally, SUPERVALU will lend merchandising support to Marsh Supermarkets through advanced merchandise planning, retail pricing analysis and shelf management programs.
We believe that this is a win-win deal for both the parties as SUPERVALU will gain access to 70 supermarkets across Indiana and Ohio as well as 38 pharmacy locations where Marsh Supermarkets presently operates. On the other hand, Marsh Supermarket’s customers will advantage from SUPERVALU’s popular grocery brands like Wild Harvest, Culinary Circle and Essential Everyday.
Also, the deal comes at a good time as SUPERVALU is scheduled to dispose off of its Save-A-Lot stores this fall. SUPERVALU has been reporting lower earnings for the past few quarters due to a substantial reduction in profits. The company's sales have also been declining due to lower comps. However, the recent contract with Marsh Supermarkets may turn around things for SUPERVALU.
Other Stocks that Warrant a Look
Other favorably ranked stocks in the food/ miscellaneous sector include The J. M. Smucker Company (SJM - Free Report) , Post Holdings Inc. (POST - Free Report) and United Natural Foods Inc. (UNFI - Free Report) , all sporting a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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