SUPERVALU (SVU) Tops Q2 Earnings & Sales, Reiterates View
Zacks Investment Research | Oct 19, 2017 07:57AM ET
SUPERVALU INC (NYSE:SVU) reported better-than-expected sales and earnings in second-quarter fiscal 2018.
The company reported adjusted earnings per share of 46 cents that surpassed the Zacks Consensus Estimate of 35 cents and the year-ago earnings of 21 cents. Robust earnings were driven by higher sales in the Wholesale business and the benefits from the completed acquisition of Unified Grocers in June.
Though the company reported a strong second quarter, its share performance has been unimpressive due to negative surprises reported in two of the past four quarters. In fact, the Zacks Rank #3 (Hold) company’s shares have underperformed the Zacks Investment Research
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