Supervalu Warns on Weaker Results

Supermarket operator Supervalu warned Wednesday that its first-quarter profit will be substantially below analysts' expectations, as consumers tighten spending in the recession.


The company also cited price cuts and higher levels of promotional spending because of the lower customer spending.

Analysts polled by Reuters Estimates were expecting a profit for the quarter ended June 20 of 65 cents a share.

More from CNBC: