SuperValu on par with profit expectations, but misses sales target

SuperValu on par with profit expectations, but misses sales target

 

Supervalu Inc. svu, -8.76% reported yesterday fiscal second-quarter earnings of $31 milloion, or 12 cents a share, compared with $31 million, or 11 cents a share, in the same period one year ago. Excluding non-recurring items, adjusted earnings per share came to 10 cents, matching the FactSet conses. Revenue fell to $3.87 billion from $4.06 billion, missing the FactSet consensus of $3.94 billion, as less than expected sales at its Save-A-Lot and retail businesses offset inline sales at its wholesale business. The discount grocery store’s stock, which was still inactive in premarket trade, has tumbled 26% year to date, while the S&P 500 SPX, +0.22% has gained 4.7%

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