Supervalu Turns in Third-Quarter Loss

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Hurt by goodwill and intangible asset impairment charges of $3.25 billion, Grocery retailer Supervalu (SVU Quote) reported on Jan. 7, 2008, a net loss for third-quarter fiscal 2009. The company swung to a net loss of $2.94 billion or $13.95 per share from a year earlier profit of $141 million or 66 cents per share.

Excluding noncash impairment charges, earnings declined to $132 million or 62 cents per share from $148 million or 69 cents per share a year ago. The latest quarterly earnings beat the consensus estimate of 60 cents per share. ...