The company approved a 1-for-7 reverse stock split to fortify its NYSE listing ($SVU) and give suckers...we mean, investors, the impression that the company is in better shape than it actually is. In its Q1 earnings report, the company highlighted a boost to its wholesale business (to be served, in part, by an acquisition made out of the Central Grocers bankruptcy); it also attempted to assuage any concerns arising out of the potential lost Marsh Supermarkets volume (even as it kept 15 stores of business with the new owner). The company is launching meal kits (how effed is Blue Apron?) and grab-and-go meals.
