On the call: Supervalu CEO Craig Herkert

By The Associated Press

Supervalu Inc. reported its first-quarter results Tuesday. The grocery chain said tough competition and shoppers' tight controls on spending cut into its revenue and net income.

The grocery industry overall has grown more competitive as companies battle for shoppers. Retailers from convenience to big-box stores also increased their heavier emphasis on food.

Supervalu CEO discussed the issue with investors during a conference call Tuesday after his company reported on its first-quarter earnings.

QUESTION: Where do you think your (market) share is going? Is it going to other conventional (retailers) like Kroger, or other channels? And what's the risk that these competitors will smell blood in (the) water and will be more aggressive?

RESPONSE: Well, I can't answer the first question. In this environment, everybody is working diligently to get consumers in their stores. So I would expect all of our competitors are doing the same thing we are doing, which is driving everyday (pricing and) improving their value proposition.

We have unique capabilities here to win in the long term. We are in this for the long haul and we're very, very happy with our progress. And we think our outlook is good.