Reported about 16 hours ago
Albertsons Cos. has raised its adjusted earnings outlook for the year following the collapse of its proposed $24.6 billion merger with Kroger Co., which was blocked by a federal judge. The supermarket chain now anticipates adjusted earnings per share between $2.25 and $2.31. Despite experiencing a 14% stock decline last year, Albertsons plans to focus on growth initiatives, including automation and advertising, while adjusting prices to accommodate financially pressured consumers. The company also declared a 25% increase in its quarterly dividend and is not currently pursuing new acquisition talks.
Source: YAHOO