Supervalu Trims Outlook for Earnings and Sales

Supervalu said last week it is imposing tighter expense controls and other cost-savings activities “to create a foundation for sales momentum and future growth” once the economy turns.

MINNEAPOLIS — Supervalu here said last week it is imposing tighter expense controls and other cost-savings activities “to create a foundation for sales momentum and future growth” once the economy turns. After reporting flat sales on record earnings for the first quarter ended June 14, the company said it was lowering earnings guidance for the year to a range of $3 to $3.16, compared with earlier guidance of between $3.06 and $3.22; it also lowered guidance on identical-store sales growth, ex

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