The secret to tripling your profits

Just buy a big supermarket chain. Thanks to its acquisition of Albertsons earlier this year, Supervalu Inc. reported second-quarter earnings of $132 million, compared with $34 million a year earlier. Per share earnings were 61 cents, eight cents higher than analyst expectations. In case you forgot, Ron Burkle, who has plenty of experience in the supermarket game, has a 12 percent stake in Supervalu, which is based in Eden Prarie, Minn. The company has boosted guidance for the year, though keep in mind it will have to negotiate a new union contract - and the last time that happened, the grocery chains lost their shirts (the union didn't do all that well either).



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Mark Lacter
Mark Lacter created the LA Biz Observed blog in 2006. He posted until the day before his death on Nov. 13, 2013.
 
Mark Lacter, business writer and editor was 59
The multi-talented Mark Lacter
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