SuperValu Guides Up

The supermarket chain benefits from the Albertson's buy.
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SuperValu

(SVU)

beat second-quarter earnings targets and raised full-year guidance.

The Minneapolis-based supermarket chain made $132 million, or 61 cents a share, for the quarter ended Sept. 9, up from the year-ago $34 million, or 24 cents a share.

Sales rose to $10.67 billion from $4.56 billion a year earlier, driven by the recent acquisition of the Albertson's chain.

Analysts surveyed by Thomson Financial were looking for a 53-cent profit on sales of $10.64 billion.

The company said it expects to make $2.18 to $2.41 a share for the year, up from its previous guidance of $2.11 to $2.36 and ahead of the $2.21 Thomson target.