Albertsons withdraws full-year guidance after Q2 profit drop
AI-generated briefing · First published
Albertsons posted lower Q2 profit and revenue, withdrew its full-year outlook and launched a business review to craft a turnaround plan.
Albertsons reported second-quarter net income of $51.5 million, down from $168.5 million a year earlier, and revenue of $18.89 billion, slightly below last year, citing weaker same-store sales. The company withdrew its full-year guidance and said it will complete a broad business review in the fourth quarter to set new short- and long-term financial targets and a turnaround plan. [1] [2]
CEO Susan Morris said the results met internal expectations but did not show the company’s potential, and the firm will “aggressively” overhaul its cost structure. The announcement comes while Albertsons pursues an $8 billion lawsuit against Kroger over their failed merger. [1]
Sources
- 艾伯森撤销本财年业绩指引，启动业务全面评估
Sina Finance · · Full text
- Albertsons Pulls Full-Year Guidance, Plans Business Review
WSJ Business · · Summary only