SUPERVALU INC. (NYSE:SVU) reported its results for the second quarter. Reported a profit of $134 million (63 cents per diluted share) in the quarter. The grocery store had a net loss of $1.47 billion or a loss of $6.94 per share in the year earlier quarter. Revenue fell 2.6% to $8.43 billion from the year earlier quarter. SVU reported adjusted net income of 28 cents per share. By that measure, the company beat the mean estimate of 20 cents per share. Analysts were expecting revenue of $8.36 billion.
“Our eight Plays to Win strategy is gaining traction and we remain on plan with our business transformation. Increased discipline and analytical tools are helping to advance hyper local retailing initiatives, which are starting to have a positive impact on our customers’ shopping experience,” said Craig Herkert, SUPERVALU’s chief executive officer and president. “While I am encouraged by our execution, I remain mindful of the challenging economy and its impact on consumer behavior. As we move into the second half of our fiscal year, SUPERVALU remains focused on its strategy and meeting the needs of its customers.”
Competitors to Watch: Safeway Inc. (NYSE:SWY), The Kroger Co. (NYSE:KR), Whole Foods Market, Inc. (NASDAQ:WFM), Winn-Dixie Stores, Inc. (NASDAQ:WINN), Ingles Markets, Inc. (NASDAQ:IMKTA), Nash-Finch Company (NASDAQ:NAFC), AMCON Distributing Co. (AMEX:DIT), Spartan Stores, Inc. (NASDAQ:SPTN), Wal-Mart (NYSE:WMT), Target (NYSE:TGT), The Great Atlantic & Pacific Tea Co. (GAPTQ), and Weis Markets, Inc. (NYSE:WMK).
Apollo Group, Inc. (NASDAQ:APOL) reported net income above Wall Street’s expectations for the fourth quarter. Net income for Apollo Group, Inc. rose to $188.6 million ($1.37 per share) vs. $41 million (28 cents per share) in the same quarter a year earlier. This is a more than fourfold rise from the year earlier quarter. Revenue fell 10.9% to $1.12 billion from the year earlier quarter. APOL reported adjusted net income of $1.02 per share. By that measure, the company beat the mean estimate of 93 cents per share. Analysts were expecting revenue of $1.1 billion.
“We set out at the beginning of 2011 to implement leading-edge student protections, differentiate University of Phoenix, and expand our business,” said Apollo Group Co-Chief Executive Officer Chas Edelstein. “We are pleased with our progress in each of these areas, including enhancing our student-centric approach to admissions, launching University Orientation, investing in our learning platform, and advancing our plans to incorporate adaptive learning and connect education to careers.”
Competitors to Watch: Career Education Corp. (NASDAQ:CECO), DeVry Inc. (NYSE:DV), Corinthian Colleges, Inc. (NASDAQ:COCO), Strayer Education, Inc. (NASDAQ:STRA), Grand Canyon Education Inc (NASDAQ:LOPE), American Public Education, Inc. (NASDAQ:APEI), ITT Educational Services, Inc. (NYSE:ESI), National American Univ. Hldgs., Inc. (NASDAQ:NAUH), Bridgepoint Education, Inc. (NYSE:BPI), and Education Management Corp (NASDAQ:EDMC).