Grocery store Albertsons' profits exceeded expectations last quarter, raising its full-year guidance
Grocery retailer Albertsons (ACI.US) announced that for the second fiscal quarter ending September 6, sales reached $18.92 billion, slightly above market expectations; adjusted earnings per share were 44 cents, also higher than the expected 40 cents. The company raised its full-year profit and sales forecasts, with the stock price rising over 11%.
Albertsons currently expects adjusted earnings per share for the full year to be between $2.06 and $2.19, up from the previous range of $2.03 to $2.16; the sales growth rate is projected to be between 2.2% and 2.75%, higher than the previous range of 2% to 2.75%
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