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
- HOG: Harley-Davidson Stock Revs Up on Earnings Beat
- AXP: American Express Stock Slips Despite Earnings Beat