Supervalu has reported net sales of $3.89bn (£2.58bn) and a net loss of $1.41bn (£934.4m) for its fourth quarter ended February 23.

The 2.3% year-on-year decline in net sales primarily reflects a decrease in identical store sales of 4.1% for retail food and 2.6% for the Save-A-Lot discount chain.

In March, Supervalu sold its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market banners to AB Acquisition.