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Supervalu 4Q net income slips on softer sales

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MINNEAPOLIS - Grocer Supervalu Inc.'s fiscal fourth-quarter net income dipped 2 percent, partly weighed down by softer sales and store closings.

The earnings topped Wall Street expectations. Supervalu's stock surged $1.22, or 13.4 percent, to $10.30 in premarket trading.

The operator of Albertsons, Jewel-Osco and Save-A-Lot chains also provided a 2012 earnings outlook on Thursday in range of Wall Street's expectations.

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