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However, its retail division continued to struggle as overall sales fell 4.1% to $1.02 billion, and comparable sales were down 3.5%.On the bottom line, the company delivered adjusted earnings per share of $0.31, accounting for a $0.30 per-share tax benefit, which was below EPS of $0.35 a year ago and missed expectations at $0.46.Supervalu also completed its acquisition of Associated Grocers of Florida in the quarter, doubling down on the wholesale business. That growth was driven by a 52% increase in wholesale revenue to $2.89 billion, primarily due to the Unified Grocers acquisition. Supervalu said net sales increased 31% to $3.94 billion, but that was boosted by its acquisition of Unified Grocers last year, and was short of estimates at $3.99 billion.
That compares to a previous forecast of $31 to $50 million. We remain committed to investing in our Wholesale business to drive future growth." Now whatLooking ahead, Supervalu sees diminished net income for the year, calling for -$20 million to $2 million in profit, which includes $35 to $45 million in non-cash charges.
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