Supervalu (NYSE:SVU) announced that it lost $424 million, or $2 per share, for its fiscal fourth quarter, versus a profit of $95 million, or 44 cent per share, in the same period last year. The company operates grocery chains such as Albertsons and Jewel-Osco. Excluding one times items, the company said it earned 38 cents per share, beating estimates of 35 cents per share.
Shares are higher in early trading.
Investors are also eagerly anticipating results today from Alcoa (NYSE:AA) as earnings season kicks off, which will likely determine the direction of the markets in the coming months.
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