U.S. grocer Albertsons falls after cutting annual forecasts - ACI News | RalliesU.S. grocer Albertsons falls after cutting annual forecasts
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ACI• Albertsons cuts annual outlook amid cautious consumer spending
- Shares of U.S. grocer Albertsons ACI.N were down about 14% at $12.52 in premarket trading.
- The company cut its annual forecasts as it navigates cautious consumer spending amid macroeconomic uncertainty.
- It now expects annual identical sales to fall in the range of 0.5% to 1.5%, from a prior range of flat to a 1% rise.
- It expects annual adjusted EPS in the range of $1.75 to $1.85, compared with a previous forecast of $2.22 to $2.32.
- Albertsons reported fourth-quarter revenue of $24.94 billion versus estimates of $24.82 billion, according to data compiled by LSEG.
- The company separately said CFO Sharon McCollam plans to retire later this year.
- Up to the last close, the stock was down nearly 15% year to date.
