Supervalu Sees Challenges As Profit And Sales Match Estimates

Supervalu Inc. said Wednesday it had net earnings of $34 million, or 13 cents a share, in its fiscal third quarter, down from $79 million, or 30 cent a share, in the year-earlier period. Excluding after-tax charges and other one-time costs, the company had adjusted EPS of 16 cents, matching the FactSet consensus. Sales edged down to $4.1 billion from $4.2 billion, but also matched the FactSet consensus of $4.1 billion. "We continue to operate in a challenging environment," Chief Executive Sam Duncan said in a statement. "Improving sales is a primary focus as we look to complete the fiscal year." Shares rose 1% premarket, but are down 35% in the last 12 months, while the S&P 500 has lost 4%.