Supervalu 4Q Revenue Misses Expectation

Supervalu Inc.

revealed that its net earnings from continuing operations were $49 million or $0.18 a share, including $15 million after-tax charges in respect of debt refinancing, impairments, and store closures apart from the possible separation of Save - A-Lot and employee severance. Excluding adjustments, net earnings from continuing operations would have been $64 million or $0.23 a share. The company's President and CEO, Mark Gross, said that "I am thrilled to be a part of SUPERVALU and impressed with the people, assets and infrastructure that are in place within this great company. though fourth quarter sales were softer than we had forecast, I am optimistic about our future prospects and pleased at our ability to manage adjusted EBITDA to finish in-line with our expectations. We have a lot of positives to build on as we move forward." Supervalu said that its consolidated net sales were $3.95 billion, down from $4.07 billion in the previous year quarter when excluded the additional week in fiscal 2015. The company added that the total net sales within the Wholesale segment fell 4.8 percent excluding the additional week in fiscal 2015. Its Save-A-Lot network identical store sales were negative 2.2 percent. Street analysts' estimated the company to report earnings of $0.18 a share and revenue of $4.0 billion. The company stated that its identical store sales for corporate stores within the Save-A-Lot network were negative 1.3 percent. On Monday, the stock traded 4.63% down.