|View printer-friendly version|
|SUPERVALU Enables Customers to Stretch Economic Stimulus or Tax Refund Checks|
Recent data shows that nearly 10 percent of disposable personal income is spent on food(1). Additionally, food prices are forecast to increase 3.5 to 4.5 percent in 2008 as commodity and energy prices continue to rise(2).
"We recognize that in today's economy, consumers' budgets are strained," said Jeff Noddle, SUPERVALU chairman and CEO. "At the same time, however, they still want to feed their families fresh and healthy meals, affordably. We're always looking for ways to help our shoppers stretch their food dollars even further, and this is a program that we hope can help them achieve that."
In keeping with its efforts to help families stretch their food dollars, SUPERVALU recently launched its Wild Harvest(TM) brand of organic and natural foods priced approximately 15 percent lower than branded organic products and at or below competitors' private-label organic prices. Wild Harvest addresses not only consumers' growing preference for organic and natural products but also their demands for value, selection and convenience.
Customers who are interested in growing their refunds should bring their government-issued economic stimulus or tax refund checks, along with government-issued identification, to customer service counters at their local stores between May 2 and July 31, 2008, to purchase store gift cards in $300 increments, not to exceed $1,200 per household. Each gift card will be loaded with an additional $30, to bring each gift card total to $330. Customers will be able to purchase less than the total amount of their check in $300 increments.
About SUPERVALU INC.
SUPERVALU INC. is one of the largest companies in the United States grocery channel with estimated annual sales of $44 billion. SUPERVALU holds leading market share positions across the U.S. with its approximately 2,475 retail grocery locations. Through SUPERVALU's nationwide supply chain network, the company provides distribution and related logistics support services to more than 5,000 grocery endpoints across the country. SUPERVALU currently has approximately 192,000 employees. For more information about SUPERVALU visit http://www.supervalu.com.
Disclaimer: These gift cards cannot be used toward the purchase of alcohol, lottery tickets, tobacco products, additional gift cards or items that are prohibited by law -- see store for details. They can be used for any purchase that a store currently accepts them for.
Sources: (1) United States Department of Agriculture (USDA) Economic Research Service, July 2, 2007, Food Consumer Price Index (CPI), Prices and Expenditures: Families and Individuals as a Share of Disposable Personal Income, http://www.ers.usda.gov (2) United States Department of Agriculture (USDA) Economic Research Service, Food CPI, Prices and Expenditures: Analysis and Forecasts for Food, Food Price Outlook, 2008, http://www.ers.usda.gov
SOURCE SUPERVALU INC.