Supervalu has reported net earnings of US$60m for the second quarter of fiscal 2012, improving on US$59m in the same period of 2011, despite a slip in net sales from US$8.7bn to US$8.4bn.
The 4,300-store network reported a decline in retail food sales from US$6.7bn to US$6.6bn caused by market exits and a 1.8 per cent reduction in same-store sales.
Craig Herkert, CEO and president of the Minneapolis-based group, said: "Our 8 Plays to Win strategy is gaining traction and we remain on plan with our business transformation."
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