Supervalu Stock Drops After ‘Sell’ Report

Shares of Supervalu fell more than 5% yesterday after an analyst at Bank of America Securities initiated coverage with a “sell” rating on the stock.

MINNEAPOLIS — Shares of Supervalu here fell more than 5% yesterday after an analyst at Bank of America Securities initiated coverage with a “sell” rating on the stock. In a report, Scott Mushkin said the company’s retail division appears to be losing share in many markets and has set its prices too high at some banners, especially at Shaw’s in New England, but also at Acme in the Philadelphia area. He projected that Supervalu will see negative comparable-store sales in 2009 and will need to a

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