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Supervalu beats street with Q2 results
Minneapolis – Supervalu Inc. beat Wall Street estimates with second quarter fiscal 2014 net earnings of $40 million, compared to a $111 million loss in the year-ago period.
The supermarket operator reported net sales of $3.95 billion, up 0.2% from $3.94 billion last year.
Same-store sales results varied by banner. Same-store sales in the Save-A-Lot network were negative 0.3, while same-store sales for corporate stores within the Save-A-Lot network were positive 4.6% and were negative 0.9% in the Retail Food segment.