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Supervalu tops expectations as profit more than doubles; sales up across segments
Minneapolis -- Supervalu Inc.’s third-quarter profit more than doubled as the supermarket chain experienced sales growth in all three of its business segments. Its results beat analysts' expectations.
Supervalu reported an overall profit of $79 million for the quarter ended Nov. 29, up from $31 million a year earlier. Revenue rose 4.8% to $4.2 billion.
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Bi-Lo CEO to leave
New York -- Supermarket operator Bi-Lo Holdings LLC, parent of the Bi-Lo and Winn-Dixie chains, said that Randall Onstead will step as president and CEO, effective March 1. The company has identified a successor, who will be named at a later date.
Onstead has been with Bi-Lo, and its parent company Lone Star Holdings, since 2008 when he was named chairman of Bi-Lo, which was then a standalone supermarket company. Under his tenure, the company went though and successfully emerged from Chapter 11 protection after which it went on to flourish and expand.

