Supervalu +10% off profit beat

|By:, SA News Editor

Supervalu (NYSE:SVU) spikes after the grocery chain showed margin improvement in FQ4. Gross margin came in at 15.0% of sales vs. +14.4% consensus.

"We finished fiscal 2017 with momentum in our wholesale business and an improved balance sheet resulting from the sale of Save-A-Lot," notes CEO Mark Gross.

Shares of Supervalu are up 9.84% after the profit beat to trade at their highest level since January.

Previously: SUPERVALU beats by $0.04, beats on revenue (April 25)

Previously: Supervalu positive post Q1 results (April 25)