USA: Supervalu lowers fiscal 2004 earnings guidance
Minneapolis-based grocery retailer Supervalu has lowered its fourth-quarter and fiscal 2004 outlook due to continued operating-margin pressure in its distribution segment. Supervalu, which operates over 1,000 grocery stores, said it now expects earnings of between 46 and 49 cents per share for the fourth quarter to 22 February, down form its previous guidance of between 55 and 60 cents per share.
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