Dallas, Texas 10/21/2013 (Financialstrend) – On October 17 SUPERVALU INC. (NYSE:SVU) had announced operational and financial results for its 2Q operations. The $1.91 billion market capitalized grocery stores operator has seen its stock value plummet by close to 8.43% during trading on October 19, a day after the 2Q results were announced. Readers should not that during premarket trading on October 17, the stock had gained close to 4.2% indicating strong expectations from investors about the company’s earnings.
SUPERVALU INC. (NYSE:SVU) had recorded net income of $62 million from sale of its “Albertsons and New Albertsons stores”. It had recorded a dip of 0.3% in its “Same-store sales” numbers at its discount store “Save-A-Lot” in its 2Q. Over all it had reported revenue of $3.95 per share and earnings per share of $0.13. Both these performance indicators were above analyst estimates. The sales in 2Q just about managed to inch upwards in comparison to 1Q. While its earnings per share in 2Q zoomed up by 157%, its gross margin and operations margin over the past 12 months had come in at 14.2% and 1.8% respectively. Its profit margin was a bother registering a 7.8% dip over its previous 12 months trailing period. Over the past 12 months trailing period, the company has accumulated sales of $17.11 billion and recorded net loss of $255 million.
Commenting on the quarter performance, the Sam Duncan who is the President and Chief Executive Officer at SUPERVALU INC. (NYSE:SVU) has said “sales were down in each of our three business segments, but we made meaningful progress in improving our sequential sales trends at Save-A-Lot, including a positive 4.6% ID for the Save-A-Lot corporate stores. We invested in our Retail Food stores and I am pleased with their negative 0.9% ID for the quarter compared to the negative 3.0% Q1 ID in the sales trend”