Albertsons Earnings Shrink Amid Difficult Consumer Environment
Albertsons
ACI -1.79%
Cos. sales rose 5% to $18.27 billion in the recently ended quarter as consumers continue to stomach higher food prices.
The supermarket company, which operates chains such as Safeway, Shaw’s and Acme, said higher prices and growth in its pharmacy business pushed identical sales, a metric that strips out store closings and openings, up 5.6% in the three months ended Feb. 25.
Gross margin for the Boise,…