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SuperValu beats 1Q net income expectations, meets revenue forecasts

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EDEN PRAIRIE, Minnesota — SuperValu Inc. (SVU) on Tuesday reported fiscal first-quarter profit of $61 million.

On a per-share basis, the Eden Prairie, Minnesota-based company said it had profit of 23 cents.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The grocery store operator posted revenue of $5.41 billion in the period, which met Street forecasts.

SuperValu shares have decreased 24 percent since the beginning of the year. The stock has declined 21 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SVU at http://www.zacks.com/ap/SVU

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Keywords: SuperValu, Earnings Report

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