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In The News:

SUPERVALU Sales Down 1% in Third Quarter

SUPERVALU Inc. (NYSE: SVU), Minneapolis, MN, reported sales for the third quarter of fiscal 2014 ended Nov. 30, 2013, of $4 billion, a decrease of 1 percent. Profit increased 93.8 percent to $31 million.

Third-quarter independent business sales were $1.9 billion compared to $2 billion last year, a decrease of 3.7 percent, primarily due to lower sales to existing customers, including military, and two larger lost customers partly offset by new business.

Save-A-Lot sales for the quarter were $991 million compared to $966 million last year, an increase of 2.6 percent, reflecting the impact from network identical store sales.

Retail food sales were $1.06 billion compared to $1.09 billion last year, a decline of 2.6 percent, primarily reflecting a decline in identical store sales.

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