Albertsons said it is stepping back from its annual forecast for fiscal 2026. The company will hold off on fresh guidance until a comprehensive review of the business wraps up in the fourth quarter, a move it framed as necessary amid cautious consumer spending. Chief Executive Officer Susan Morris said the business has yet to reach its full potential.
Management plans to examine the company's cost base, accelerate operational improvements, and simplify the organization. The goal is to sharpen execution before reinstating an outlook.
Pulling guidance is a stronger signal than cutting it. Market Briefs covers the consumer economy free every weekday.
Same-store sales fell 0.8% in the most recent quarter, a touch better than what Wall Street had anticipated. Adjusted earnings also came in ahead of estimates. Shares were down about 2.7% in Tuesday's premarket session in New York.
Albertsons, which runs the Safeway and Jewel-Osco chains, is seeking a new path after its proposed merger with Kroger collapsed. It is seeking more than $9 billion from Kroger over the failure of that $24.6 billion deal. For shoppers and investors alike, the review and the merger fallout set the stage for how aggressive Albertsons can be on prices, promotions, and store investments where you actually buy groceries.
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