* Q4 EPS $0.14 vs $0.38 yr ago.
* Q4 sales fall 4 percent
* Sees favorable operating environment in the H2 2011
* Shares rise 7 pct
May 12 (Reuters) - Grocery chain Spartan Stores Inc (SPTN.O) posted a lower fourth-quarter profit weighed down by restructuring charges, and forecast a favorable operating environment in the second half of 2011, sending its shares up 7 percent post market.
The company, which owns and operates retail supermarkets, forecast a growth in first-quarter 2011 same-store sales compared with fourth-quarter results.
Spartan posted fourth-quarter net earnings of $3.2 million, or 14 cents a share, compared with $8.4 million, or 38 cents a share, a year ago.
Excluding a $3.2 million charge, it earned 29 cents a share from continuing operations.
Revenue fell 4 percent to $558.8 million.
Shares of Grand Rapids, Michigan-based Spartan Stores were trading up 7 percent after the bell. They closed at $15.40 Wednesday on Nasdaq. (Reporting by Vidya Lakshmi in Bangalore; Editing by Jarshad Kakkrakandy)