USA: Spartan Stores revises earnings outlook to below expectations
Spartan Stores , citing continuing competitive pressure in its Ohio market, has announced that earnings for its fiscal 2002 third quarter will fall significantly below market expectations. Fiscal 2002 Q3 sales and earnings have declined from previous internal expectations. Sales for the quarter were US$1.06bn, with diluted earnings per share at break-even, compared with fiscal 2001 Q3 sales from continuing operations of US$1.14bn and earnings of US$0.36 per diluted share.
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