For the second quarter of fiscal 2010, net sales for the company were $9.46 billion, compared to $10.23 billion for the corresponding period of fiscal 2009.

Net earnings for the first 28 weeks of fiscal 2010 were $187 million, or $0.88 earnings per diluted share, compared to $290 million, or $1.36 earnings per diluted share, for the same period of fiscal 2009. For the first 28 weeks of fiscal 2010, net sales were $22.18 billion, compared to $23.57 billion for the same period of fiscal 2009.

Craig Herkert, CEO and president of Supervalu, said: "Consumer purchasing behavior, deflationary pressures, as well as our decision to make meaningful investments in price and promotions significantly impacted our second quarter sales and margins.

"Even as we have made these investments which resulted in pressure on our margins, I am pleased that our total debt has been reduced $340 million since year end. As we move into the last half of the year, we will place intense focus on in-store execution and merchandising programs. I am confident that our strategy to provide shoppers with enhanced value and other changes we are now making, will allow us to compete more effectively."

A service of YellowBrix, Inc.