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NEW YORK (TheStreet) -- SuperValu (VALU) - Get Free Report shares are down 3.74% to $10.31 in trading after the wholesale grocery company reported its first quarter earnings results before the opening bell today.

The company reported first quarter earnings of 24 cents per diluted share on revenue of $4.36 billion, a 10.4% increase over the year ago period. Analysts on average were expecting the company to report earnings of 21 cents per share on revenue of $4.39 billion

The company's Save-A-Lot chain led the company's strong quarter as it saw its profit rise 50% during the period. The company reported a 3.6% increase in same store sales while the retail food segment in its stores saw a 1.1% increase over the same period last year.

TheStreet Ratings team rates SUPERVALU INC as a Hold with a ratings score of C. TheStreet Ratings Team has this to say about their recommendation:

"We rate SUPERVALU INC (SVU) a HOLD. The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. The company's strengths can be seen in multiple areas, such as its revenue growth, compelling growth in net income and solid stock price performance. However, as a counter to these strengths, we also find weaknesses including poor profit margins and weak operating cash flow."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

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