Supervalu Inc., the nation’s third biggest supermarket chain operator, reported on Tuesday that earnings nearly quadrupled in its second quarter, when it included the results of its newly purchased Albertson’s grocery stores. It also boosted its guidance for the year, the Associated Press reports.
The Eden Prairie-based grocer and food distributor said it earned $132 million, or 61 cents per share, in the three months ended Sept. 9, up from $34 million, or 24 cents per share, during the same period last year. Sales more than doubled to $10.67 billion, up from $4.56 billion a year ago.
Supervalu, which runs groceries such as Cub Foods and Shop ‘n Save, nearly doubled its store count by buying most of Albertson’s, which included stores under that name as well as Jewel-Osco, Shaw’s and Star Market.
