SuperValu Matches Profit Expectations, But Misses On Sales
Supervalu Inc. reported Wednesday fiscal second-quarter earnings of $31 million, or 12 cents a share, compared with $31 million, or 11 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share came to 10 cents, matching the FactSet consensus. 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 has gained 4.7%.
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