Albertsons Moves Forward With Kroger Merger Despite Consumer Headwinds
October 18, 2023
Albertsons, the grocery chain, has reported better-than-expected second-quarter results, with adjusted earnings per share eroding less than anticipated, positioning it for its long-anticipated merger with Kroger. The company’s adjusted net income was $367.7 million, slightly down from last year, but above consensus estimates. In connection with the merger, Albertsons and Kroger have finalized a deal with C&S Wholesale Grocers for the sale of various stores, distribution centers, and private label brands, though regulatory uncertainties persist.
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