Reuters: Hot Stocks: UPDATE 1-Supervalu profit rises, 2013 view above estimates

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UPDATE 1-Supervalu profit rises, 2013 view above estimates Apr 10th 2012, 12:30 Tue Apr 10, 2012 8:30am EDT * Q4 EPS $0.38 vs Street View $0.35 * Sees 2013 EPS of $1.27-$1.42 vs Street $1.19 * Shares up more than 10 percent April 10 (Reuters) - Supervalu Inc, the third-largest U.S. supermarket operator, reported on Tuesday better-than-expected earnings and issued a full-year profit forecast above Wall Street's view, sending shares up 10.5 percent in premarket trading. The Minneapolis-based owner of grocery chains such as Jewel-Osco, Albertsons and Save-A-Lot reported a net loss of $424 million, or $2 per share, including asset impairment charges and costs related to previously announced layoffs, for the fiscal fourth quarter ended Feb. 25. That compared with a year-earlier profit of $95 million, or 44 cents per share. Excluding items, Supervalu earned 38 cents per share, topping analyst' call for a profit of 35 cents per share, according to Thomson Reuters I/B/E/S. Net sales fell 5 percent to $8.23 billion, below analysts' average forecast of $8.31 billion. The company forecast fiscal 2013 earnings per share of $1.27 to $1.42, above Wall Street's call for a profit of $1.19 per share. Shares jumped to $5.88 in premarket trading from their close of $5.32. Link this Share this Digg this Email Reprints

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