• Supervalu reports this morning that it had third quarter net sales of $10.2 billion compared to $10.7 billion last year, and record net earnings of $141 million an increase of 25 percent compared to $113 million last year.
The company reported year to date fiscal 2008 net sales of $33.7 billion compared to $27.1 billion last year, an increase of 24 percent. Net earnings increased 32 percent to $437 million compared to $332 million last year.
• The Great Atlantic & Pacific Tea Company (A&P) announced this morning that its third quarter net income rose 41 percent to $57.3 million, on sales that were up three percent to $1.25 billion.
"I'm pleased with the growing vitality of our business that continued in the third quarter, as evidenced by our continued sales improvement, Fresh store development and fundamental merchandising and operating improvements," said CEO Eric Claus.
The company reported year to date fiscal 2008 net sales of $33.7 billion compared to $27.1 billion last year, an increase of 24 percent. Net earnings increased 32 percent to $437 million compared to $332 million last year.
• The Great Atlantic & Pacific Tea Company (A&P) announced this morning that its third quarter net income rose 41 percent to $57.3 million, on sales that were up three percent to $1.25 billion.
"I'm pleased with the growing vitality of our business that continued in the third quarter, as evidenced by our continued sales improvement, Fresh store development and fundamental merchandising and operating improvements," said CEO Eric Claus.
- KC's View:
- I’ve been pretty negative about A&P … so it’s important here to concede that this profit uptick surprised me. Good for them; I’m never upset when companies prove me wrong by doing better than I expect them to do.
