Supervalu posts $201 million loss
MINNEAPOLIS — Supervalu Inc., one of the nation’s largest grocery chains, says it lost $201 million in its fiscal fourth-quarter mostly because of hefty goodwill and asset impairment charges. Adjusted results managed to top analysts’ estimates.
The Eden Prairie, Minn.-based company lost 95 cents per share. That’s down from a profit of $156 million, or 73 cents per share, a year earlier.
Excluding $1.82 per share in charges related to store closings and other items, profit was 87 cents per share.
Analysts expected earnings of 79 cents per share.
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Sales rose 4 percent to $10.82 billion, but missed analysts’ estimates of $10.86 billion.
Supervalu predicts 2010 adjusted profit of $2.50 to $2.65 per share. Analysts expect earnings of $2.59 per share.
