- Supervalu Q4 profit beats Street, will remodel 55 to 75 units in 2011
- Supervalu fires Herkert as CEO; appoints chairman to post
- SuperValu returns to profit in Q2; on track to open 80 to 90 Save-A-Lot stores
- Report: SuperValu to open 160 Save-A-Lot stores in 2011
- Supervalu joins DOE’s Better Buildings Challenge
Minneapolis, SuperValu, Inc. announced Tuesday that the company has posted a 12% rise in second-quarter profit. The grocery chain operator said a lower costs offset a 5% drop in sales.
Net income for the quarter ended Sept. 8 grew to $148 million, from $132 million a year ago.
Sales slipped to $10.16 billion from $10.67 billion last year, as the latest period included 12 weeks of combined results, compared with 13 weeks in the second quarter of fiscal 2007. This discrepancy reduced sales in the 2008 quarter by about $450 million.