SUPERVALU Inc. (SVU) announced Wednesday morning that identical store sales and net earnings for the first quarter were impacted by a tougher than expected business environment. The company now expects EPS for the quarter to be substantially below the consensus estimate of $0.65.
SUPERVALU Inc. gapped open sharply lower Wednesday, but was range-bound for the majority of the session. The stock finished down by $1.88 at $13.81 on the highest volume of the year. SUPERVALU closed testing support, trading at over a 2-month low.
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