SUPERVALU reports $40M in fiscal Q2 profit

SUPERVALU's decision to slim down by selling 900 stores in January, including the Albertsons chain, resulted in a better-than-expected fiscal second quarter. The company posted a net income of $40 million. SUPERVALU stock fell nearly 4% on Thursday, however, after the company announced a plan to boost competitiveness at stores by investing an undisclosed sum that will prompt a "modest" decline in operating profit.

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Supermarket News (free registration) · Reuters · Star Tribune (Minneapolis-St. Paul, Minn.)

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