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Albertsons stock plunges on lowered outlook, softened grocery trends
CNBC • • business
Key Points:
- Albertsons' shares dropped nearly 15% after the company lowered its fiscal 2026 outlook due to softer demand and a more cautious consumer environment.
- CEO Susan Morris highlighted strong growth in digital and pharmacy segments, but noted core grocery sales faced pressure from reduced industry unit trends and cautious consumer spending.
- The company now expects full-year net income between $1.75 and $1.85 per share, down from the previous $2.22 to $2.32 range, and lowered adjusted EBITDA guidance to $3.55-$3.625 billion from $3.85-$3.925 billion.
- Albertsons reported a 0.8% decline in identical sales for the first fiscal quarter and net income of $84.7 million, significantly lower than the prior year's $236.4 million.
- Despite near-term challenges, Albertsons plans to invest in customer experience to boost traffic, units, loyalty, and long-term business growth.
