SUPERVALU REVAMP CUTS NET 77%

MINNEAPOLIS -- Supervalu here said restructuring costs, including charges for its Advantage project, resulted in a severe earnings drop for the year ended Feb. 25 and the company's first decline in pretax operating earnings in 20 years. The company said the restructuring costs are necessary for long-term growth while some analysts expressed doubts about the long-term benefits from the project.Net

MINNEAPOLIS -- Supervalu here said restructuring costs, including charges for its Advantage project, resulted in a severe earnings drop for the year ended Feb. 25 and the company's first decline in pretax operating earnings in 20 years. The company said the restructuring costs are necessary for long-term growth while some analysts expressed doubts about the long-term benefits from the project.

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