SuperValu has reported net sales of $10.6bn (£6.82bn) for its first quarter, compared with $11.1bn (£7.14bn) the previous year. The retailer’s net earnings declined 45% to $41m (£26.39m).

SuperValu put the fall in earnings down to the disposal of a majority of fuel stations, a decline in like-for-like sales and market competition.

Craig Herkert, chief executive and president, said: “It is essential that we move even more aggressively to lower prices.”