BUZZ - Albertsons shares rise as the company launches a business review
路透社2026/10/13 15:51Latest Updates
October 13 - ** Shares of US supermarket chain Albertsons ACI.N rose about 2% in early trading, to $12.80
** ACI reversed its pre-market decline after holding an earnings call with analysts
**The company announced it will initiate a business review (link) aimed at reducing costs, lowering prices, and reversing weak sales performance
** Executive Chair Meg Whitman said during the earnings call that the company needs to accelerate its cost reduction efforts, and plans to reinvest most of the savings into lowering prices and improving the in-store experience
** eMarketer analyst Zak Stambor said: “Investors may be responding to Meg Whitman’s candid assessment that Albertsons needs to quicken the pace of its transformation strategy”
** ACI expects to “present a clear transformation plan and measurable commitments” during its fourth quarter earnings call
** The company, due to the ongoing business review, has withdrawn its fiscal 2026 performance forecast
** The company’s second quarter profit and revenue both beat (link) expectations
** As of the close of the previous trading day, the stock was down about 27% year-to-date
(To assist non-English speakers, Reuters provides automated translations of its report into several other languages. Automated translation may contain errors or not include the required context; Reuters does not guarantee the accuracy of automated translations and provides them solely for the convenience of readers. Reuters accepts no liability for any damages or losses caused by the use of the automated translation feature.)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Africa’s payment giant backed by SoftBank is rushing to list in the US! Opay (OPAY.US) plans to raise $336 million, with its valuation possibly exceeding $4 billion
The payment platform Opay Ltd., which focuses on the Nigerian market, plans to raise up to 336 million dollars through an initial public offering (IPO).
BMT surges past $0.039, briefly up over 40%
Western Digital (WDC.US) CFO refutes claims of AI demand peaking: No signs of weakening, if it cools down it could help us catch up with the demand gap
Western Digital's CFO expressed strong support for AI storage demand, stating that hyperscale cloud providers are continuously increasing capital expenditures and have engaged in discussions regarding supply needs through 2030 to 2031. Although the company's quarterly results exceeded expectations and profit guidance was raised, capital expenditure more than doubled compared to the same period last year, putting pressure on free cash flow. This has sparked concerns in the market about the sustainability of returns on AI data center investments. The stock closed down by about 3% on Friday.
Crypto prices
More
