SVU: SuperValu Stock Soars on Earnings Beat

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

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.

[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:

• PG: Procter & Gamble Stock Ticks Lower on Revenue Miss[4]
• HOG: Harley-Davidson Stock Revs Up on Earnings Beat[5]
• AXP: American Express Stock Slips Despite Earnings Beat[6]

Source URL: https://investorplace.com/2014/04/svu-supervalu-stock-soars-earnings-beat/

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