Supervalu Inc. (NYSE:SVU)

Fourth Quarter 2012 Results

• Fourth quarter retail food net sales were $6.4 billion compared to $6.7 billion last year.
• When adjusted for the non-cash goodwill and intangible asset impairment charges and employee-related costs, fourth quarter fiscal 2012 net earnings were $81 million or $0.38 per diluted share vs $0.35 in prior year

Craig Herkert, SUPERVALU’s chief executive officer and president, said, “I am pleased with the launch of our business transformation this year and the initial results from that strategy which helped us deliver our adjusted earnings results of $1.25 for fiscal 2012. Our disciplined approach to pre-funding price investments is allowing us to invest across markets, categories and items. We remain focused on delivering improved value for our customers and meeting the specific needs of each community we serve.”

Fiscal 2013 Guidance 

In addressing guidance, Herkert commented, “We are committed to fair price plus promotions and will intensify our efforts as we enter the second year of our business transformation. As we move into fiscal 2013, we see another year of improving identical store sales and will continue to take appropriate steps to deliver greater value to our customers and move closer to becoming America’s Neighborhood Grocer."

The company expects to generate fiscal 2013 earnings per diluted share on a GAAP basis within a range of $1.27 to $1.42.