Supervalu shares soar on plan to spin off Save-A-Lot

Supervalu — not long ago the nation’s third largest supermarket operator — would shrink even further if its Save-A-Lot chain is successfully transformed into an independent publicly traded company.

From an investors’ perspective, that’s just fine: Supervalu’s announcement Tuesday that it aims to spin off Save-A-Lot, a national discount grocery chain, sent the company’s shares soaring 10 percent. A decent Supervalu earnings report Tuesday also helped the stock.

http://www.startribune.com/supervalu-shares-roar-on-plan-to-spin-off-save-a-lot/318841831/