EDEN PRAIRIE, MN – Supervalu Inc has released its second quarter financial results for fiscal year 2015.

The company saw net sales of $4.02 billion and net earnings from continuing operations of $31 million, $0.11 per diluted share.

"Midway through fiscal 2015, I am encouraged with the progress we have made across the business,” said President and CEO Sam Duncan. “The investments we have made at Save-A-Lot continue to drive sales and our Retail Food stores recorded their third consecutive quarter of positive identical store sales.”

Duncan continued, “The addition of the Rainbow stores this past quarter is a positive for our Independent Business and we are encouraged by the early results.”

Q2 net sales were $4.02 billion compared to $3.95 billion last year, a 1.8% increase.  Identical store sales in the Save-A-Lot network were positive 6.5%, and for corporate stores in the Save-A-Lot network were 8.2% positive, according to a press release.  For the Retail Food segment, identical store sales were positive 0.4%.

Gross profit for Q2 fell 0.4% from $576 million last year to $572 million this quarter.  The company attributes this decrease in gross profit rate to lower fees earned under the TSA, predominantly related to the one-year transition fee earned where $18 million were recognized under the second quarter of fiscal 2014, according to a press release.

Stay tuned to AndNowUKnow as we keep an eye on Supervalu’s performance as the fiscal year continues.

Supervalu