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Supervalu Q2 Profits Decline 42 Percent; Same-Store Sales Slip 5 Points
Lingering fickle consumer purchasing behavior, coupled with deflationary pressures and an aggressive pricing and promotional strategy, significantly affected Supervalu’s second-quarter sales and margins, with a 42 percent plunge in profits that dropped to $74 million, or 35 cents a share, from $128 million, or 60 cents, a year earlier.