ADVFN - Advanced Financial Network.
HOME» NYSE » S » SVU Stock Price » SVU Stock News

Supervalu Share News

 Supervalu Stock Price
SVU Stock Price
 Supervalu Stock Chart
SVU Stock Chart
 Supervalu Stock News
SVU Stock News
 Supervalu Company Information
SVU Company Information
 Supervalu Stock Trades
SVU Stock Trades

PREWRITE: Delhaize Profit Drops More Than Expected

By Anna Marij van der Meulen Of DOW JONES NEWSWIRES AMSTERDAM -(Dow Jones)- Belgian supermarket retailer Delhaize NV (DELB.BT) Wednesday said first quarter net profit fell 3.2%, due to higher expenses in the U.S., which also hurt its U.S. margin, while U.S. comparable sales were boosted by inflation. "The first quarter was, as planned, impacted by investments that will bear fruit later this year" said Chief Executive Pierre-Olivier Beckers. Analysts had expected a drop in margin and profit, but were nevertheless disappointed by the results, sending the shares down 4.7% to EUR55.37 at 0730 GMT. KBC Securities analyst Pascale Weber said the drop in margin was stronger than expected. Delhaize's first quarter net profit fell 3.2% to EUR126 million while sales rose to EUR5.04 billion from EUR4.97 billion in the first quarter of last year. Its margin dropped to 4.3%, from 4.8% last year with a drop in U.S. operating margin to 4.6%, from 5.3%. At the presentation of fourth quarter results in March, Delhaize warned that the first quarter would be hurt by higher selling, administrative and general expenses in the U,S. where the retailer is active through its Food Lion, Hannaford and Sweet Bay chains and competes among others with Ahold NV's (AH.AE) Stop&Shop chain, Wal Mart and Supervalu Inc. (SVU). The U.S. accounts for two thirds of Delhaize's revenue. Delhaize's U.S. comparable sales of stores open longer than a year declined 0.3% in the first quarter, from a 0.8% drop in the fourth quarter of 2010, when U.S. earnings improved despite intense competition and the tough economic climate. Delhaize said the improvement is due to inflation. Supervalu recently reported a 5% drop in comparable sales for its fiscal quarter ending Feb. 26. -By Anna Marij van der Meulen; Dow Jones Newswires; +31 20 5715 216;

Stock News for Supervalu (SVU)
11/27/201516:27:03Statement of Changes in Beneficial Ownership (4)
11/17/201516:20:03With Wal-Mart Stumbling, No. 2 Kroger Looks for More Share
11/17/201506:01:40Current Report Filing (8-k)
11/16/201517:31:00SUPERVALU Executive Vice President Janel Haugarth Announces Plan...
11/11/201514:10:00Culinary Circle® Announces Expanded Selection of Premium Grocery...
11/10/201511:49:26Statement of Changes in Beneficial Ownership (4)
10/26/201511:29:09Statement of Changes in Beneficial Ownership (4)
10/24/201505:30:06SUPERVALU Falls Short as Save-A-Lot Sags
10/21/201510:49:00Supervalu Sales, Profit Fall Short of Expectations
10/21/201508:00:00SUPERVALU Reports Second Quarter Fiscal 2016 Results
10/20/201517:30:59Notable earnings before Wednesday’s open
10/13/201517:30:00SUPERVALU Announces Fiscal 2016 Second Quarter Conference Call
10/01/201516:20:09Current Report Filing (8-k)
10/01/201516:10:00SUPERVALU CEO Sam Duncan Announces Plan to Retire February 2016
09/30/201512:35:00Market Movers - Grocery Stores Stocks -- The Kroger, Whole Foods...
09/30/201511:10:00Technical Snapshot on Stocks Under Diverse Sectors -- SuperValu...
09/10/201506:01:31Current Report Filing (8-k)
09/02/201517:00:00SUPERVALU to Participate at Goldman Sachs Global Retailing Conference
08/10/201511:54:21Statement of Changes in Beneficial Ownership (4)
08/05/201515:30:00Wild Harvest Announces Plan to Source 100 Percent Cage-Free Eggs...

Supervalu and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations