Supervalu has posted fourth-quarter fiscal 2011 results that show small year-on-year declines in net sales and net earnings.
Net sales were down from US$9.2bn in 2010 to US$8.7bn and net earnings dropped from US$97m to US$95m, but the company described the figures as 'stronger than anticipated'.
The results include charges related to previously announced store closures and employee-related costs, as well as a non-cash intangible asset impairment charge.
Craig Herkert, Supervalu's CEO and president, said: 'We enter fiscal 2012 with momentum, a solid plan and new capabilities to drive our business transformation, invest in price and deliver sequential improvement to ID sales.'
