Supervalu Inc. (SVU) reported third-quarter net earnings of $109 million, or $0.51 per share, compared to a loss of $2.94 billion, or $13.95 per share in the year ago quarter.
The prior year quarter results included a non-cash goodwill and intangible asset impairment charges of $3.3 billion pre-tax or $3.1 billion after-tax, or $14.57 per share. Excluding non-cash impairment charges, net earnings for the prior year quarter were $132 million or $0.62 per share.
On average, 16 analysts polled by Thomson Reuters expected the company to report earnings of $0.40 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales were $9.22 billion, down from $10.17 billion in the year ago quarter. Analysts had consensus revenue estimate of $9.43 billion for the quarter.
Looking ahead to fiscal 2010, Supervalu still projects GAAP earnings in the range of $1.95 - $2.05 per share, on net sales of about $41 billion. The company also reiterated its adjusted earnings outlook of $2.01 - $2.11 per share. Wall Street analysts estimate earnings of $1.86 per share on revenue of $41.22 billion.
Also, Supervalu announced its fiscal 2011 capital spending plan of approximately $700 million.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.