SUPERVALU'S SALES DECLINE AS EARNINGS RISE 26.2%

MINNEAPOLIS -- Supervalu here said last year's asset swap with C&S Wholesale Grocers resulted in a sales decline of about $100 million for the second quarter ended Sept. 11, but net income rose 26.2% compared with the year-ago period.Jeff Noddle, chairman, president and chief executive officer, pointed out that gross margins improved since the swap, "and we hope we can find more opportunities like

MINNEAPOLIS -- Supervalu here said last year's asset swap with C&S Wholesale Grocers resulted in a sales decline of about $100 million for the second quarter ended Sept. 11, but net income rose 26.2% compared with the year-ago period.

Jeff Noddle, chairman, president and chief executive officer, pointed out that gross margins improved since the swap, "and we hope we can find more opportunities like that, though nothing is imminent."

The exchange involved a swap of Superval

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