Shares of Supervalu (NYSE: SVU) are plunging this morning after the retail grocer posted a loss for the third quarter and slashed its full year profit outlook.
As of 9:55 a.m. (EDT), Supervalu shares have plummeted 12.81 percent.
The company, which faces a litany of worsening problems, has seen its stock plunge by almost 40 percent since last October.
In the most recent quarter, the company lost $202 million, or $0.95 per share, versus recording a profit of $101 million, or $0.51 per share, it accomplished in the year-ago quarter.
The company reduced its full fiscal year profit forecast to a range of $1.25 to $1.35 a share, from $1.40 to $1.60 a share.