SuperValu earns a record in fiscal 2Q
SuperValu Inc reported record results for the second quarter of fiscal 2005, which ended Sept 11, 2004. The Minneapolis MN-based grocery chain tallied net sales of $4.5 billion compared with $4.6 billion in 2003, and net earnings of $78.5 million versus $62.2 million a year ago.
Jeff Noddle, SuperValu chairman and chief executive officer, said, “We are pleased with our record results in the second quarter. We achieved strong earnings performance reflecting last year’s asset exchange and a continued focus on merchandising programs. SuperValu’s outlook remains solid, and our current earnings per share guidance for fiscal 2005 is a range of $2.80 to $2.90 per share.”
For the first 28 weeks of fiscal 2005, the company reported net sales of $10.4 billion compared with $10.4 billion a year earlier, and net earnings of $227.9 million versus $135.9 million in 2003.
