SuperValu Beats 4Q Profit Forecasts
EDEN PRAIRIE, Minn. (AP) — SuperValu Inc. (SVU) on Tuesday reported fiscal fourth-quarter profit of $39 million.
The Eden Prairie, Minnesota-based company said it had profit of 14 cents per share. Earnings, adjusted for one-time gains and costs, came to 24 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The grocery store operator posted revenue of $4.36 billion in the period.
SuperValu shares have risen 10 percent since the beginning of the year. The stock has risen 50 percent in the last 12 months.
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