US grocer Albertsons cuts annual sales, profit forecasts
ACI•Albertsons lowers full-year sales and profit outlook
July 23 (Reuters) - Albertsons ACI.N cut its annual identical sales and profit forecasts on Thursday, as U.S. grocers navigate cautious spending by consumers struggling with higher gas and food prices.
The company expects identical sales to decline in the range of 0.5% to 1.5%, compared with its prior target of flat to up 1%.
Albertsons estimated adjusted earnings per share in the range of $1.75 to $1.85, compared with its earlier target of $2.22 to $2.32.
