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Spartan Stores beats 4Q profit forecasts

GRAND RAPIDS, Mich. (AP) _ Spartan Stores Inc. (SPTN) on Wednesday reported fourth-quarter earnings of $12.8 million.

On a per-share basis, the Grand Rapids, Michigan-based company said it had net income of 34 cents. Earnings, adjusted for one-time gains and costs, were 53 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.

The grocery store operator and grocery distributor posted revenue of $1.83 billion in the period.

For the year, the company reported profit of $56.8 million, or $1.51 per share. Revenue was reported as $7.73 billion.

Spartan Stores expects full-year earnings in the range of $2.26 to $2.35 per share.

Spartan Stores shares have fallen almost 2 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $38.87, a rise of 82 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SPTN at https://www.zacks.com/ap/SPTN


Keywords: Spartan Stores, Earnings Report