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.

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