Shares of Albertsons ( ACI ) fell sharply Tuesday, a day after the supermarket chain reported a weaker-than-expected profit outlook for fiscal 2025.
The Boise, Idaho-based company posted fiscal 2024 fourth-quarter adjusted earnings per share (EPS) of $0.46 on sales of $18.80 billion. Analysts polled by Visible Alpha expected $0.40 and $18.65 billion, respectively.
However, Albertsons' full-year adjusted EPS projection of $2.03 to $2.16 missed consensus projections of $2.28.
Shares of Albertons, which last month announced that CEO Vivek Sankaran would be retiring May 1 and replaced by COO Susan Morris, were down over 6% in Tuesday morning trading.
Albertsons stock is up modestly since its $24.6 billion combination with Kroger (
KR
)
was called off in December
, when a pair of judges sided with the
Federal Trade Commission
and ruled that their merger
likely would have resulted
in lower wages and
higher prices
.
Read the original article on Investopedia