SUPERVALU Smoked After Q1 Results

Grocery chain SUPERVALU SVU released its first-quarter earnings results after the closing bell on Wednesday. The company reported net earnings of $41 million or $0.19 per share, compared to $74 million or $0.35 per share, in the year ago period. This compared to Wall Street consensus EPS estimates of $0.38. Net sales in the quarter were $10.6 billion compared to $11.1 billion in last year's first-quarter. This also missed analysts' consensus revenue estimates of $10.81 billion. Gross margins in the quarter were 22 percent versus 22.1 percent a year ago. In the after hours trading session, SUPERVALU shares have plunged more than 24 percent to $4.00.