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Supervalu reports Q4 loss


Minneapolis Supervalu reported Thursday a net loss of $201 million for fiscal fourth quarter 2009, ended Feb. 28, including a one-time charge for acquisition-related costs of $9 million.

The chain also reported net sales of $10.8 billion. Same-store sales dropped 2.0% for the quarter.

For the fiscal year, Supervalu reported a net loss of $2.9 billion, including predominantly non-cash impairment charges of $3.8 billion pre-tax or $3.5 billion after-tax, which are required by Statement of Financial Accounting Standards. The company’s sales were $44.6 billion.

For the year, the company remodeled 161 stores and made minor revisions on 17 locations. It added 14 new traditional stores and 25 new limited-assortment corporate stores.

Looking ahead to fiscal 2010, Supervalu expects net sales to be approximately $43 billion, and expects same-store sales, excluding fuel, to range between a 1% drop and a 1% increase.

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