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Earnings roundup: Supervalu profit drops, Western Union earnings sink amid legal expense

From The Associated Press, October 20, 2009 - 5:58 PM

Earnings roundup: Supervalu profit drops, Western Union earnings sink amid legal expense

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(AP) - Among the earnings stories for Tuesday, Oct. 20, from AP Financial News:

PORTLAND, Ore. (AP) — Supervalu Inc., one of the nation's largest grocers, says it will revamp its strategy to draw consumers whose shopping habits may be changed forever by the recession.

PHOENIX (AP) — Western Union said in a regulatory filing that it expects to settle its legal battle with Arizona over money transfers to Mexico that the state contends are drug and immigrant smuggling money.

MONTVALE, N.J. (AP) — Supermarkets operator Great Atlantic & Pacific Tea Co. posted a wider second-quarter loss, citing rising unemployment and price competition, and said its chief executive, Eric Claus, is leaving the company.

ATLANTA (AP) — Invesco Ltd. said its third-quarter profit fell 20 percent as revenue declined in results announced after the investment manager said it is acquiring Morgan Stanley's retail asset management business, including Van Kampen Investments.

DALLAS (AP) — Shares of Comerica Inc. surged after the regional bank reported a narrower-than-expected quarterly loss and projected a modest slowdown in loans written off as not being repaid.

NEW YORK (AP) — Investment bank Jefferies Group Inc. said it moved to a profit in the third quarter as it benefited from a dramatic improvement in fixed income and commodities revenue.