Grocer Albertsons Raises Annual Sales Forecast on Steady Demand for Essentials

Albertsons raised its annual sales forecast after beating quarterly estimates on Tuesday, betting on steady demand for essentials at grocery stores and pharmacies as economic uncertainty squeezes household budgets.

Consumers, facing persistent inflationary pressures, have tightened their budgets and are sticking to necessities, such as grocery items and medicines, while avoiding higher-priced, non-essential purchases like electronics and apparel.

U.S. grocers, including Albertsons and Kroger, have gained an edge by attracting value-conscious shoppers with competitive pricing across a wide range of categories, at a time...

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