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Exhibit 99.1
Cautionary Statements for Purposes of the Safe Harbor Provisions
of the Securities Litigation Reform Act
SUPERVALU INC. ("SUPERVALU" or the "Company") may occasionally make statements
regarding its businesses, such as projections of future performance, statements
of management's plans and objectives, forecasts of market trends and other
matters, which to the extent they are not historical fact, may constitute
"forward-looking statements" within the meaning of the Private Securities
Litigation Reform Act of 1995. Statements containing the words or phrases "will
likely result", "are expected to," "will continue," "outlook," "is anticipated,"
"estimate," "project," "believe," or similar expressions, which may appear in
certain documents, reports (including but not limited to those filed with the
Securities and Exchange Commission), press releases, and written or oral
presentations made by officers of the Company to analysts, shareholders,
investors, news organizations and others, identify such forward-looking
statements. No assurance can be given that the results in any forward-looking
statements will be achieved and actual results could be affected by one or more
factors which could cause them to differ materially. Therefore, SUPERVALU wishes
to ensure that any written or oral forward-looking statements made by it or on
its behalf, are accompanied by, or referenced to, meaningful cautionary
statements in order to maximize to the fullest extent possible the protections
of the safe harbor established in the Private Securities Litigation Reform Act
of 1995.
All forward-looking statements made by or on behalf of SUPERVALU are hereby
qualified in their entirety by reference to the following important factors,
among others, that could affect the Company's businesses and cause actual
results to differ materially from those projected. These factors are in addition
to any other cautionary statements, written or oral, which may be made or
referred to in connection with any such forward-looking statement. Any
forward-looking statement speaks only as of the date on which such statement is
made, and SUPERVALU undertakes no obligation to update such statement to reflect
events or circumstances arising after such date.
Competition and Other Business Factors
Competition is intense in the markets in which the Company's businesses operate.
In the retail segment, the ability to maintain or increase sales and earnings
may be affected by a number of factors including, but not limited to,
competition from other retail chains, supercenters, non-traditional competitors,
and emerging alternative formats. Similarly, in the distribution segment, sales
and earnings may be affected by the success of the Company's customers in
competing with other retail chains, supercenters and non-traditional
competitors, competition from established distribution companies and the entry
of new or non-traditional distribution competitors into the industry.
Other factors that could impact the Company's businesses include the ability to
attract new customers and retain existing customers, consolidations of retailers
or competitors, normal operating risks, increased operating costs, credit risks
associated with open accounts and financing activities with independent
retailers, the risk of increased self-distribution by chain retailers and
potential disruptions resulting from labor disputes.
Expansion and Acquisitions
The Company intends to continue to grow its retail and wholesale businesses in
part through acquisitions. Expansion is subject to a number of risks, including
the adequacy of the Company's capital resources; the location of suitable store
or distribution center sites and the negotiation of acceptable lease terms; the
ability to hire, train and integrate employees; and possible costs and other
risks of integrating or adapting operational systems. In addition, acquisitions
involve a number of special risks, including: making acquisitions at acceptable
rates of return; the diversion of management's attention to assimilation of the
operations and personnel of the acquired business; potential adverse short-term
effects on the Company's operating results; and amortization of acquired
intangible assets.
Liquidity
Management expects that the Company will continue to replenish operating assets
with internally generated funds and leases. If capital spending significantly
exceeds anticipated capital needs, additional funding could be required from
other sources. In addition, acquisitions could affect the Company's borrowing
costs and future financial flexibility.
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Litigation
While the Company believes that it is currently not subject to any material
litigation, the costs and other effects of legal and administrative cases and
proceedings and settlements are impossible to predict with certainty.
The foregoing should not be construed as exhaustive and the Company disclaims
any obligation subsequently to revise any forward-looking statements to reflect
events or circumstances after the date of such statements or to reflect the
occurrence of anticipated or unanticipated events.
