Supervalu Q1 Sales, Profits Decline; CFO Leaves

MINNEAPOLIS — Supervalu here said Tuesday that first-quarter net income fell more than 40%, to $67 million, as sales slid 9.45%, compared with year-ago results.

MINNEAPOLIS — Supervalu here said Tuesday that first-quarter net income fell more than 40%, to $67 million, as sales slid 9.45%, compared with year-ago results.

Identical-store sales declines of 7.2% and the sale of some locations helped drive a 9.6% decrease in total retail sales for the period, while revenues from supply-chain services fell 7.9%, to $2.6 billion, primarily reflecting