Supervalu reports dip in earnings for Q2

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.