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

Supervalu 1Q Profit Rises 10% On Lower Taxes; Revenue Falls

DOW JONES NEWSWIRES Supervalu Inc.'s (SVU) fiscal first-quarter earnings rose 10% thanks to a lower effective-tax rate though the supermarket operator posted weaker sales and margins. Grocers and food companies have been raising some prices to offset rising commodities costs despite risks that consumers will buy less because of concerns about the economy and high unemployment. Supervalu, whose supermarket brands include Albertsons and Shaw's, has been striving to cut expenses and become more cost-competitive with rivals. Plans include a revamp of its private-label strategy--replacing existing store brands that are named for its chains, such as Jewel Osco and Albertsons, with a national Essential Everyday brand. The company expects the move will increase its leverage with suppliers and allow a national advertising approach. For the quarter ended June 18, Supervalu reported a profit of $74 million, or 35 a share, up from $67 million, or 31 cents a share, a year earlier. Prior year earnings were 43 cents excluding charges related to market exits and a labor dispute. Revenue decreased 3.7% to $11.11 billion on exits from some markets and an identical-store sales decline of 3.9%. Analysts polled by Thomson Reuters most recently forecast earnings of 33 cents on revenue of $11.16 billion. Gross margin edged down to 22.1% from 22.5% amid inventory impacts. The company's effective income-tax rate declined to 40.8% from 47.5%. Shares of Supervalu, which affirmed guidance for the fiscal year, closed Monday at $8.52 and were inactive premarket. The stock is down 26% in the past year. -By Tess Stynes, Dow Jones Newswires; 212-416-2481; [email protected]

Stock News for Supervalu (SVU)
02/14/201712:04:33Amended Statement of Ownership (sc 13g/a)
02/14/201707:12:12Amended Statement of Ownership (sc 13g/a)
02/10/201706:04:28Amended Statement of Ownership (sc 13g/a)
02/09/201708:30:00SUPERVALU Foundation Supports Hunger Relief with $1 Million in...
02/06/201715:38:13Statement of Ownership (sc 13g)
01/23/201717:20:41Current Report Filing (8-k)
01/20/201710:52:32Statement of Changes in Beneficial Ownership (4)
01/20/201710:46:25Initial Statement of Beneficial Ownership (3)
01/18/201706:30:00SUPERVALU Names Anne Dament as Its Senior Vice President of Re...
01/17/201712:54:20Amended Statement of Ownership (sc 13g/a)
01/17/201709:51:12Confidential Treatment Order (ct Order)
01/11/201716:49:31Quarterly Report (10-q)
01/11/201706:49:01Current Report Filing (8-k)
01/11/201706:30:00SUPERVALU Reports Third Quarter Fiscal 2017 Results
01/03/201717:00:00SUPERVALU Announces Fiscal 2017 Third Quarter Conference Call
12/09/201606:01:52Current Report Filing (8-k)
12/05/201616:30:00SUPERVALU Completes Sale of Save-A-Lot
11/18/201618:12:22Smithfield and Farm Fresh Partner With 106.9 The Fox and FM99...
11/09/201606:45:00SUPERVALU Named Grocery Wholesaler by America’s Food Basket
10/24/201611:52:18Statement of Changes in Beneficial Ownership (4)

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 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations