UPDATE: Supervalu Posts Rise In Q3 Profit

Supervalu

reported a rise in its fiscal third-quarter profit. Supervalu's quarterly profit surged to $31 million, or $0.12 per share, from a year-ago profit of $16 million, or $0.08 per share. Its adjusted net earnings from continuing operations came in at $0.13 per share. Its net sales declined to $4.01 billion from $4.05 billion. However, analysts were projecting earnings of $0.14 per share on sales of $4.05 billion. Supervalu shares closed at $7.03 yesterday.