Supervalu Plans 50 Closures

Supervalu said it would close 50 struggling stores by next month, and slash its capital budget for the coming fiscal year, as it continues to adjust to a rough economy. The retailer last week recorded a third-quarter loss of $2.9 billion, or $13.95 per share, reflecting a $3.3 billion non-cash charge reconciling the value of its assets with a battered stock price. Excluding the charge,

MINNEAPOLIS — Supervalu said it would close 50 struggling stores by next month, and slash its capital budget for the coming fiscal year, as it continues to adjust to a rough economy.

The retailer last week recorded a third-quarter loss of $2.9 billion, or $13.95 per share, reflecting a $3.3 billion non-cash charge reconciling the value of its assets with a battered stock price. Excluding the charge, net earnings for the quarter, which ended Nov. 29, totaled $141 million on flat

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