Supervalu posts Q4 gains in comps, profits in transition year
SEAFOODNEWS.COM April 24, 2014
Supervalu fourth-quarter identical-store sales were up 2.1% at Save-A-Lot and 0.2% at its more traditional supermarkets, helping drive net income of $26 million for the period.
Sales in the quarter, which ended Feb. 22, were up 1.4%, to $3.95 million. Net income from continuing operations totaled $40 million, after $8 million in one-time charges, compared with a loss from continuing operations of $174 million — including $149 million in one-time charges — in the year-ago fourth quarter. The reported loss in the year-ago period was $1.4 billion, which included more than $1.2 billion in losses from discontinued operations.
"Fiscal 2014 was an important transition year for Supervalu as we stabilized the organization and set the foundation for our future,” said president and CEO Sam Duncan.
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