SUPERVALU Inc.
(
SVU) reported lower-than-expected earnings of $0.24 per share in the third quarter of fiscal 2010. Earnings declined 52.9% year-over-year and were 22.6% lower than the Zacks Consensus Estimate of $0.31.
Net sales for the quarter declined 5.9% year-over-year to $8,673 million primarily because of declines in the retail food segment and supply chain services segment. Therefore, the company lowered its guidance for fiscal 2011.
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