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May 23, 2006

US: Supervalu issues first guidance for 2007

US retail group Supervalu has issued its first revenue and earnings guidance taking account of its acquisition of part of the Albertsons group.

US retail group Supervalu has issued its first revenue and earnings guidance taking account of its acquisition of part of the Albertsons group.
 
The company said it is forecasting sales for the 2007 fiscal year of between US$37.4bn and $38bn. Earnings per share for the year are projected at $2.17 to $2.44 which includes one-time transaction costs of $0.30-0.35 per diluted share and the impact of the newly adopted stock option accounting treatment of $0.06-0.08 per diluted share. Adjusting for these items, diluted EPS for 2007 is expected to be in the range of $2.60 to $2.80, the company said.
 
Supervalu is part of a consortium buying the Albertsons retail group. The deal gained FTC approval in March and is expected to be finally completed in June.

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