US food retailer and wholesaler Supervalu has reported earnings of US$63.9m for the fourth quarter to 22 February, up from $32.8m a year earlier when the company booked big restructuring charges.

Net earnings per share for the quarter increased to 48 cents, compared with 24 cents in the year-ago period, reported the Associated Press.

Adjusting for restructuring charges of $1.8m, the company earned $65.7m, or 49 cents per share, beating analysts’ estimates of 47 cents per share.

The company’s sales rose 2% to $4.61bn, while same-store sales were flat, compared to last year’s 1.3% rise.

Sales at the company’s retail food segment rose 6% year-on-year in the first quarter, mainly due to the addition of more stores.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

Sales at Supervalu’s food distribution unit declined 1.9%.

For the full fiscal year, the company earned $257.0m, or $1.91 per share, including $1.8m restructuring charges, compared to $198.3m, or $1.48 per share, a year earlier.

Total sales for the full year were $19.16bn, down from $20.29bn in the previous year.

Supervalu said it expects to earn between $2.00 and $2.15 in fiscal 2004, on flat same-store sales.

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now