By Timothy Inklebarger
Source: Supermarket News
As the grocer continues to defend itself in court against three antitrust lawsuits aiming to block its acquisition by Kroger, Albertsons stock jumped about 1% on Tuesday, following the release of its Q2 earnings report that outperformed Wall Street estimates.
The Boise, Idaho-based retailer, which operates 2,267 stores, 1,726 pharmacies, 405 fuel centers, 22 distribution centers, and 19 manufacturing facilities, chose to forgo its guidance call with analysts and members of the press.
Albertsons Cos. Inc. reported better-than-expected earnings of $0.46 per share on revenue of $18.6 billion, the company reported for the 12 weeks ending Sept. 7. That beat consensus estimates of $0.45 per share on revenue of $18.47 billion, according to Earnings Whispers.
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