Thursday, January 11, 2018

Supervalu is back in the black, but the new tax law is causing a hiccup

Star Tribune

Just as Supervalu Inc. was starting to gain some traction in its quarterly results, the company revealed in its latest results Wednesday that the new tax law will hurt its bottom line for the rest of its fiscal year.

Supervalu, based in Eden Prairie, said it will take a charge of up to $45 million in the last three months of its fiscal year, which ends in early March, to account for reducing the carrying value of deferred tax assets as a result of the new tax law.. . . more