Supervalu reports dip in earnings for Q2

10/14/2008

MINNEAPOLIS Supervalu today reported its totals for second quarter 2009 sales and earnings.

Supervalu said that in the second quarter its net sales totalled $10.2 billion, compared with a total of $10.2 billion last year. The company’s net earnings checked in at $128 million, in comparison with $148 million at the same time last year (earnings per share totaled $0.60 diluted compared to $0.69 diluted in the second quarter 2008, including expenses related to acquisitions, which totaled $3 million and $19 million, or $0.01 and $0.05, respectively, pre-tax per share, diluted.

For its 2009 year-to-date total sales, Supervalu rang up $23.6 billion compared to $23.5 billion  in year-to-date sales for the same time last year. Net earnings reported totaled $290 million, compared to last year’s sum of $296 million last year, or $1.36 per share diluted, compared with $1.37 diluted for the same period in 2008.

Supervalu also reported that its retail food net sales for the second quarter totaled, $8.0 billion, remaining the same as the previous year. The company’s retail square footage was down by 0.1 percent from the second quarter of last year, a total that was partially offset by new store openings in several markets.

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