SuperValu Misses Fiscal Q3 Street Views on Earnings, Revenues

SuperValu, a grocery wholesaler and retailer, Wednesday reported earnings and revenues below Street views.
The grocer reported fiscal Q3 ended Dec. 3 adjusted earnings from continuing operations of $0.05, below the Street view of $0.14, and also below the $0.08 reported a year earlier.

The company reported fiscal Q3 revenues of $3.00 billion, below the Street view of $3.76 billion, and also below the $3.04 billion reported a year-earlier.

On Dec. 5, Supervalu completed the sale of its Save-A-Lot business. Supervalu said the results of operations, financial position and cash flows of the Save-A-Lot business are now presented as discontinued operations for all periods, and results from continuing operations no longer include the sales, operating earnings, net earnings, and adjusted EBITDA from Save-A-Lot.

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