Albertsons shares up; co launches business review

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13/10/2026 16:40

Updates
** Shares of US grocer Albertsons ACI.N up ~2% at $12.80 in morning trading
** ACI reverses premarket losses following its post-earnings call with analysts
** Co says it is launching a review of its business aimed at cutting costs, lowering prices and reversing sluggish sales 
** The grocer needs to move faster to cut costs and reinvest much of those savings to lower prices and improve store experience, executive chair Meg Whitman says on post-earnings call
** "Investors may be responding to Meg Whitman’s frank assessment that Albertsons needs to pick up the pace on its turnaround strategy," Zak Stambor, analyst at eMarketer says
** ACI expects to "outline a clear turnaround plan and measurable commitments" by its Q4 earnings call
** Co withdrew its fiscal 2026 forecasts as it conducts the review
** Co beats second-quarter profit and revenue estimates 
** Up to last close, stock down about 27% YTD

 (Reporting by Shania S Thomas in Bengaluru)
 ((shanias.thomas@thomsonreuters.com))