UPDATE: Supervalu Posts Stronger-Than-Expected FQ4 Profit, Issues Upbeat FY13 Forecast

Supervalu Inc

reported stronger-than-expected fiscal fourth-quarter earnings and issued an upbeat full-year profit view. Supervalu posted a quarterly net loss of $424 million, or $2 a share, versus a year-ago profit of $95 million, or $0.44 per share. Excluding items, the company earned $0.38 per share, versus analysts' estimates of $0.35 per share. Supervalu's net sales dropped 5% to $8.23 billion, versus analysts' estimates of $8.31 billion. Supervalu expects fiscal 2013 earnings of $1.27 to $1.42 per share, versus analysts' estimates of $1.19 per share. Supervalu shares jumped 14.29% to $6.08 in pre-market trading.