Supervalu Stock Plunges After Earnings Report

Supervalu’s stock plunged nearly 16% in yesterday’s trading after the company said it reduced its earnings and sales-growth targets and said it would take longer than expected to realize the benefits of the Albertsons acquisition.

MINNEAPOLIS — Supervalu’s stock plunged nearly 16% in yesterday’s trading after the company here said it reduced its earnings and sales-growth targets and said it would take longer than expected to realize the benefits of the Albertsons acquisition. The company said a “cautious consumer” and the difficulties in managing inflation have led it to reduce its quarterly same-store sales and yearly earning targets. Also, the company now expects to realize the full measure of its post-acquisition sy

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