SVU: SuperValu Stock Soars on Earnings Beat

by Christopher Freeburn | April 23, 2014 10:21 am

SVU: SuperValu Stock Soars on Earnings Beat

On Wednesday, SuperValu (SVU[1]) reported a quarterly profit on higher revenue[2]. On the news, SVY stock jumped more than 13% in morning trading.

SuperValu SVU: SuperValu Stock Soars on Earnings Beat[3]SVU stock surged after the grocery chain operator said it earned $26 million during its fiscal fourth quarter, compared to a loss of $1.41 billion in the prior-year period. Adjusted EPS from continuing operations was 18 cents, topping the 15 cents that analysts were expecting, the Wall Street Journal noted.

During the quarter, SVU posted sales of $3.95 billion, up 1.4% from the year-ago quarter, and slightly above the $3.9 billion Wall Street had forecast.

Expenses at SuperValu tumbled 38% in the fiscal fourth quarter. Sales of retail food remained unchanged at $1.09 billion. Sales at SVU’s Save-A-Lot unit gained 3.1%.

SVU stock closed at $6.76 per share on Tuesday.

More Stocks in the News:

Endnotes:
  1. SVU: http://studio-5.financialcontent.com/investplace/quote?Symbol=SVU
  2. quarterly profit on higher revenue: http://online.wsj.com/news/articles/SB10001424052702303834304579519443428673598?mg=reno64-wsj
  3. [Image]: http://investorplace.com/wp-content/uploads/2012/04/SuperValu.jpg
  4. PG: Procter & Gamble Stock Ticks Lower on Revenue Miss: http://investorplace.com/2014/04/pg-procter-gamble-stock-ticks-lower-revenue-miss/#.U1fLGl5hOf1
  5. HOG: Harley-Davidson Stock Revs Up on Earnings Beat: http://investorplace.com/2014/04/hog-harley-davidson-stock-revs-earnings-beat/#.U1aNm15hOf0
  6. AXP: American Express Stock Slips Despite Earnings Beat: http://investorplace.com/2014/04/axp-american-express-stock-slips-despite-earnings-beat/#.U0_qO15hOf1

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