Supervalu Reports Second-Quarter Results

Minneapolis Net sales remained flat during the second quarter at Supervalu, coming in at $10.2 billion this fiscal year identical to last year as net earnings fell to $128 million from $148 million.

Year-to-date sales and earnings were slightly more positive: $23.6 billion in net sales this year vs. $23.5 billion last year and $290 million in earnings vs. $296 million last year. However, in the company’s prepared release, Jeff Noddle, Supervalu chairman and CEO, predicted, “Our cash flows will provide for more than $1 billion in capital spending and debt reductions of at least $400 million this year."