2024-04-23 12:10:00 ET
Summary
- Albertsons reported revenue that fell short of expectations for the final quarter of the 2023 fiscal year.
- Earnings per share came in higher than expected, but worse than the previous year.
- Albertsons and Kroger announced an agreement with C&S Wholesale Grocers to acquire additional stores as part of the deal to appease regulators.
- The merger continues to be unlikely to occur, but that's perfectly fine considering how cheap Albertsons is.
April 22nd was a rather interesting day for shareholders of Albertsons Companies ( ACI ). The grocery store, which is in the process of being acquired by The Kroger Co. ( KR ), announced financial results covering the final quarter of the 2023 fiscal year. Management reported revenue that fell short of expectations. On the other hand, earnings per share, while worse than it was a year earlier, came in higher than expected. Furthermore, the company announced , in conjunction with Kroger, that an agreement has been made with C&S Wholesale Grocers whereby C&S will end up acquiring some additional stores as part of its deal to purchase hundreds of locations in order to appease regulators....
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Albertsons Companies: As Merger Woes Mount, Things Get Interesting