Albertsons Inc. on Tuesday said quarterly profit fell 30 percent, missing estimates, as higher costs from hurricanes and pressure from discount retailers such as Wal-Mart weighed on results.
The company, which put itself up for sale in September, also cut the top end of its earnings forecast for the year. The company reported third-quarter net income of $77 million (21 cents per share), compared with $110 million (29 cents) a year earlier. Analysts had expected a profit of 27 cents per share.
