SuperValu Inc. said Tuesday that its earnings nearly quadrupled for the second quarter, thanks in large part to its acquisition of Albertsons grocery stores.
The earnings report was the first time the grocery giant included revenue generated by its new subsidiary, Albertsons, the chain it purchased earlier this year for $11.3 billion.
The Eden Prairie, Minn.-based chain store owner and operator said its earnings jumped 74 percent to $132 million (61 cents per share) from $34 million (24 cents) compared to the same period a year earlier. Sales also more than doubled to $10.7 billion.
Analyst predictions came in around 53 cents per share on sales of $10.6 billion, according to Thomson Financial.
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