Supervalu, the US grocer, has published underlying earnings guidance for its 2008 fiscal year.
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The company said it expects underlying earnings to reach US$2.92-2.98 a share, after excluding acquisition-related costs of $0.21 a share.
Supervalu also issued a forecast for annual earnings for its 2009 fiscal year. The company sees underlying earnings reaching $3.10-3.25 per share for the 53-week year that ends on 28 February 2009.
“Our fiscal 2009 earnings guidance reflects modest operating growth, including the benefits of synergies, lower interest expense and the 53rd week,” said Supervalu chairman and CEO Jeff Noddle. “We are assuming low single-digit sales growth and identical store sales growth in the range of 1-2% for fiscal 2009.”
Noddle added: “Total one-time Albertsons acquisition-related costs are now estimated to fall in the $150-155m range compared to previous guidance of $145m, with consulting fees representing the primary component of this increase.”
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