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.
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
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.

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 GlobalDataSales 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.