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Updated: 10:54 a.m. Tuesday, April 10, 2012 | Posted: 10:53 a.m. Tuesday, April 10, 2012
NEW YORK — Supervalu Inc., which operates three Cub Foods stores in the Dayton area, says it swung to a loss in the fourth quarter as a result of impairment charges and costs related to store closures and layoffs.
The struggling operator of grocery chains says it lost $424 million, or $2 per share, in for the three months ended Feb. 25. That’s compared with a profit of $95 million, or 44 cents per share, in the year-ago period.
Not including one-time items, however, the Minneapolis-based company said it earned 38 cents per share. That topped Wall Street expectations of 35 cents per share for the quarter.
Shares of Supervalu were up 73 cents, or 14 percent, at $5.32, in pre-market trading.
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