Supervalu beats by $0.03, beats on revs
Reports Q2 (Aug) earnings of $0.13 per share, excluding non-recurring items, $0.03 better than the Capital IQ Consensus Estimate of $0.10; revenues rose 0.3% year/year to $3.95 bln vs the $3.88 bln consensus. •Second quarter Independent Business net sales were $1.84 billion compared to $1.87 billion last year, a decrease of 1.6 percent, primarily due to lower sales to existing customers, including military, offset in part by net new business.
•Second quarter Save-A-Lot net sales were $972 million compared to $973 million last year, a decrease of 0.1 percent, reflecting the impact from network identical store sales of negative 0.3 percent partially offset by the impact from new stores. Identical store sales for corporate operated stores within the Save-A-Lot network were positive 4.6 percent.