Supervalu shares jumped 12 percent Thursday after the Eden Prairie-based grocery giant sold five regional supermarket chains. The Pioneer Press reports that's the highest value for the stock in eight months. Stock shares fell to $1.68 last fall, and hit $4.68 on Thursday.
Supervalu said Thursday it sold five regional supermarket chains: Albertsons, Acme, Jewel-Osco, Shaw's and Star Market. The $3.3 billion sale shrinks Supervalu to just half its earlier size. But it offers a hopeful future to one of Minnesota's largest corporations -- and the owner of Cub Foods -- which had been foundering amid a sea of debt, struggling stores and rising competition.