MINNEAPOLIS — Supervalu here said last week it is imposing tighter expense controls and other cost-saving activities “to create a foundation for sales momentum and future growth” once the economy turns. That disclosure followed lower financial guidance after the release of first-quarter results, which showed record earnings of $162 million on flat sales and a drop in identical-store sales of 0.9%. Supervalu said it was lowering earnings guidance for the year to a range of $3 to $3.16, ...
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