Earnings Release

On April 25, 2017, SUPERVALU INC. (the Company) issued a News
Release announcing its financial results for the quarter (12 weeks)
and fiscal year (52 weeks) ended February 25, 2017. A copy of the
News Release issued by the Company in connection with this Item
2.02 is attached as Exhibit 99.1 and is incorporated by reference
herein.

Outlook for Fiscal 2018

On the fiscal 2017 fourth quarter conference call associated with
the News Release, the Company will provide an outlook for the
fiscal year ending February 24, 2018, including Adjusted EBITDA.

The Company defines Adjusted EBITDA as Net (loss) earnings from
continuing operations, plus Interest expense, net and Income tax
(benefit) provision, less Net earnings attributable to
noncontrolling interests calculated in accordance with generally
accepted accounting principles (GAAP), plus non-GAAP adjustments
for Depreciation and amortization, LIFO charge (credit), certain
employee-related costs and pension-related charges (including
severance costs, pension settlement charges, multiemployer pension
withdrawal charges, accelerated stock-based compensation charges
and other items), certain non-cash asset impairment and other
charges (including asset write-offs, store closures and market
exits), certain gains and losses on the sale of property, goodwill
and intangible asset impairment charges, costs related to the
separation of businesses, legal settlement charges and gains,
contract breakage costs and certain other non-cash charges or
items, as determined by management. These items are omitted either
because they are non-cash items or are items that are not
considered in our supplemental assessment of our on-going business
performance. Certain of these adjustments are considered in similar
supplemental analyses by other companies, such as Depreciation and
amortization, LIFO charge (credit) and certain other adjustments.
Adjusted EBITDA is less disposed to variances in actual performance
resulting from depreciation, amortization and other non-cash
charges and credits, and more reflective of other factors that
affect the Companys underlying operating performance. There are
significant limitations to using Adjusted EBITDA as a financial
measure including, but not limited to, it not reflecting cash
expenditures for capital assets or contractual commitments, changes
in working capital, income taxes and debt service expenses that are
recurring in the Company’s results of operations.

The following table reconciles the Companys outlook for full year
fiscal 2018 Adjusted EBITDA to Net earnings from continuing
operations, the most comparable GAAP measure. This outlook does not
include any results from the Companys announced agreement to
acquire Unified Grocers, Inc. Additional adjustments not related to
our on-going business performance may also arise during fiscal
2018.

Management is providing an outlook for fiscal 2018 Adjusted EBITDA,
which is a non-GAAP financial measure, because management believes
Adjusted EBITDA is an important measure of business performance
that provide investors with useful supplemental information. The
Company utilizes non-GAAP measures to analyze underlying core
business trends to understand operating performance and as a
compensation performance measure.

The information in this Item 2.02 and in Exhibit 99.1 of this
Current Report on Form 8-K shall not be deemed filed for purposes
of Section 18 of the Securities Exchange Act of 1934 or otherwise
subject to the liabilities of that Section, nor shall it be deemed
incorporated by reference in any filing under the Securities Act of
1933 or the Securities Exchange Act of 1934, regardless of any
general incorporation language in such filing.

Forward-Looking Statements

Except for the historical and factual information contained
herein, the matters set forth in this report and related
conference call, particularly those pertaining to SUPERVALUs
expectations, guidance or future operating results, and other
statements identified by words such as estimates, expects,
projects, plans, intends, outlook and similar expressions are
forward-looking statements within the meaning of the safe harbor
provisions of the Private Securities Litigation Reform Act of
1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially,
including competition, ability to execute operations and
initiatives, ability to realize benefits from acquisitions and
dispositions, ability to grow sales, reliance on wholesale
customers performance, failure to perform services, wind down of
the Companys relationships with Albertsons LLC and New
Albertsons, Inc., ability to maintain or increase margins or
identical store sales, restrictive covenants from indebtedness,
labor relations issues, escalating costs of providing employee
benefits, intrusions to and disruption of information technology
systems, changes in military business, adequacy of insurance,
asset impairment charges, fluctuations in our common stock price,
impact of economic conditions, commodity pricing, severe weather,
disruption to supply chain and distribution network, governmental
regulation, food and drug safety issues, legal proceedings,
pharmacy reimbursement and health care financing, intellectual
property protection and other risk factors relating to our
business or industry as detailed from time to time in SUPERVALUs
reports filed with the SEC. You should not place undue reliance
on these forward-looking statements, which speak only as of the
date of this report. Unless legally required, SUPERVALU
undertakes no obligation to update or revise publicly any
forward-looking statements, whether as a result of new
information, future events or otherwise.

Item 9.01 Financial Statements and Exhibits.>

(d) Exhibits.

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