Spartan Stores: 4Q Earnings Snapshot
GRAND RAPIDS, Mich. (AP) _ Spartan Stores Inc. (SPTN) on Wednesday reported a fourth-quarter loss of $14 million, after reporting a profit in the same period a year earlier.
The Grand Rapids, Michigan-based company said it had a loss of 39 cents per share. Earnings, adjusted for one-time gains and costs, came to 32 cents per share.
The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The grocery store operator and grocery distributor posted revenue of $1.9 billion in the period.
For the year, the company reported net income of $33.6 million, or 93 cents per share, swinging to a profit in the period. Revenue was reported as $8.06 billion.
For the current quarter ending in April, Spartan Stores expects its per-share earnings to range from 18 cents to 22 cents.
The company expects full-year earnings in the range of $1.70 to $1.80 per share.
Spartan Stores shares have risen 28 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $21.99, a decrease of roughly 2 percent in the last 12 months.