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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Supervalu Inc. (delisted) | NYSE:SVU | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 32.49 | 0.00 | 01:00:00 |
From Apr 2019 to Apr 2024
Supermarket operator Supervalu Inc. on Thursday cut its profit guidance for the year, citing softer-than-expected second-quarter results in its traditional and discount grocery segments.
The company said it now expects adjusted earnings before earnings before interest, taxes, depreciation and amortization—a widely-used profitability measure—to fall about 5% in the current fiscal year. It had previously expected the measure to decline 1.5%.
Supervalu shares fell 5.7% in premarket trading.
Supervalu said its retail segment, which consists of traditional grocery stores, was hurt by competitive openings and a challenging sales and operating environment in the quarter. In the company's discount grocery store, Save-A-Lot, results were hurt by deflation and lower levels of government benefits compared with the first quarter.
The company expects these factors to affect the second half of the fiscal year as well.
Supervalu is exploring selling or spinning off its Save-A-Lot division.
Write to Austen Hufford at austen.hufford@wsj.com
(END) Dow Jones Newswires
September 08, 2016 08:05 ET (12:05 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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