RETAIL SECTOR DEPRESSES SUPERVALU EARNINGS

MINNEAPOLIS -- Supervalu here said last week its earnings for the second half of fiscal 2001 would be lower than previously expected.The company attributed the earnings shortfall largely to challenges in its retail sector. In particular, it cited its effort to establish its everyday-low-price warehouse format -- Cub Foods, in Chicago -- an effort, the company said, that has required greater than expected

MINNEAPOLIS -- Supervalu here said last week its earnings for the second half of fiscal 2001 would be lower than previously expected.

The company attributed the earnings shortfall largely to challenges in its retail sector. In particular, it cited its effort to establish its everyday-low-price warehouse format -- Cub Foods, in Chicago -- an effort, the company said, that has required greater than expected advertising and promotion expenses while achieving lower than expected comparabl

Register to view the full article

test - Advanced Registered User

Already a member? .

TAGS: Supervalu