NEW YORK (CNN/Money) - Albertson's Inc. posted flat fiscal fourth-quarter operating profits Wednesday, but it beat forecasts and said it expects to slightly exceed current full-year estimates.

The nation's No. 2 grocery store chain behind Kroger reported earnings of $246 million, or 60 cents a share, excluding special items, in the quarter ended Jan. 31. That's the same as the company posted on that basis a year earlier but tops its earlier guidance as well as the consensus earnings per share forecast of 56 cents by earnings tracker First Call.

The company said it expects to earn 50 cents a share in its fiscal first quarter, excluding special items, in line with First Call's forecast and up from 46 cents a year earlier. For the year, it expects to earn $2.15 a share, excluding special items, up from $1.95 in the just-completed fiscal year, and topping the First Call forecast of $2.12.

For the latest quarter, sales rose to $9.7 billion from $9.5 billion but missed the First Call forecast of $9.8 billion .

The company said it expects to take restructuring charges of $580 million, on a pre-tax basis, during this fiscal year, with about $510 million being non-cash costs. The company said the restructuring should allow it to hit the previously-stated goal of $250 million in annualized savings by the end of the second quarter of this fiscal year, and that it should see more than $500 million in annualized savings by the end of the year.

Shares of Albertson's (ABS: Research, Estimates) lost 28 cents to $31.40 in trading Tuesday.