Inflation Fears Hurt Supervalu Stock

Concerns on Wall Street over the negative impact of inflation drove Supervalu's stock price down nearly 8% yesterday after the company reported strong financial results for the first quarter ended June 16.

MINNEAPOLIS — Concerns on Wall Street over the negative impact of inflation drove Supervalu's stock price down nearly 8% yesterday after the company reported strong financial results for the first quarter ended June 16. Acknowledging that inflation was hovering close to 3%, compared with 2% three months ago, Jeff Noddle, chairman and chief executive officer, said, "We seem to be in the teeth of the wind of inflation at this point in time, [though] it can change rather quickly, and we're hopef

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TAGS: News Supervalu