Albertsons Exec Chair Warns 'Dramatic Improvement Is Needed Now' After Q2 Profit Plunges 69%
ACI sits 18% above its 52-week low of $10.86.
Summary
Albertsons reported Q2 adjusted EPS of $0.36, beating the $0.33 consensus, but GAAP net income fell 69% to $51.5 million. Executive Chair Meg Whitman warned that 'dramatic improvement is needed now,' citing shortfalls in sales growth, earnings, and market share. She called for faster cost cuts, lower prices, better store operations, and a portfolio review, with broader structural changes possible. CEO Susan Morris said the company is accelerating centralized buying and simplifying operations under ACI Edge, but noted lower-income shoppers are trading down. The company withdrew its fiscal 2026 outlook and will present a turnaround plan on the Q4 earnings call. Shares rose 2.23% to $12.82 on the day.
At the time of this announcement, ACI was trading at $12.83 on NYSE in the Trade & Services sector, with a market capitalization of approximately $6.2B. The 52-week trading range was $10.86 to $20.00. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Benzinga.