MW Albertsons Warns of Competition From Larger Retailers but Downplays Tariff Impact
'We're all seeing the pressures' from the biggest retailers and club stores, CEO says
Albertsons Cos.' stock slid on Tuesday after the grocery chain's outlook lagged Wall Street's expectations and the company warned of competition from bigger rivals, as retailers battle for shoppers feeling the effects of inflation and an escalating trade war.
Shares fell 7.6% on Tuesday. During Albertsons' (ACI) earnings call, executives said that consumer behavior patterns seen over recent months - that is, the pursuit of cheaper alternatives - hadn't changed much.
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