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Spartan Stores Inc Updates FY 2014 Comparable Store Sales Guidance; Reaffirms FY 2014 Guidance; Comments On H2 2014 Earnings Guidance

Wednesday, 23 Oct 2013 04:05pm EDT 

Spartan Stores Inc announced that for fiscal 2014 it expects comparable store sales, adjusted for the Easter calendar shifts, to range from slightly negative to flat. Consolidated net sales and adjusted earnings from continuing operations for fiscal 2014 are expected to exceed fiscal 2013; however, adjusted earnings from continuing operations are expected to be flat in the second half of the year when compared to the prior year, due to lower fuel profit contribution than in the first half of the year, the cycling of the retail store acquisition and distribution customer gain, as well as lower levels of inflation than previously expected. The Company reported revenue of $2.608 billion and EPS of $1.43 in fiscal 2013. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $2.658 billion and EPS of $1.50 for fiscal 2014; EPS of $0.25 for the third quarter of 2014; and EPS of $0.48 for the fourth quarter of 2014. 

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1:22pm EDT