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Supervalu Q2 net earnings 30 million

Supervalu   $0.11 per diluted share

Second-quarter numbers from supermarket chain Supervalu were in line with expectations on the earnings front, but weaker-than-forecast in terms of revenue.

Net earnings from continuing operations came in at $30 million, or $0.11 per diluted share, on consolidated net sales of $3.87bn, down from earnings of $31m and sales of $4.06bn in the same period a year ago.

Adjusted earnings per share came in at $0.10, down from $0.13 the year before but in line with analysts' expectations.

Wholesale earnings for the quarter declined 5.5% to $1.73bn, mostly due to stores from the previous year no longer supplied by the company, partially offset by a rise in sales to new stores operated by existing customers and new customers.

Sales at Save-a-Lot came in at $1.06bn compared to $1.09bn the year before, while sales in Retail dropped 5.4% to $1.03bn.


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