Supervalu Profits Beat Street Despite Loss

Sales rose 4% to $10.82 billion, while identical store sales -- a key barometer of grocer health -- fell 2% in the quarter.

For the full-year the company saw a loss of $2.86 billion, or $13.51 per share, compared with a profit of $593 million, or $2.76 per share, in the previous year. Adjusted earnings were $615 million, or $2.89 per share. Annual revenue inched up to $44.56 billion from $44.05 billion.

Supervalu expects fiscal 2010 earnings between $2.50 and $2.65 a share, excluding charges to close stores and other cost saving plans.