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Friday, Feb 3, 2023
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Albertson’s Quarterly Profit Climbs

Albertson’s Inc. said Wednesday its second-quarter earnings edged up 3 percent from last year, but the results failed to meet Wall Street’s expectations.


The Boise, Idaho-based supermarket chain with stores throughout Southern California reported net income of $107 million (29 cents per diluted share) for the second quarter, compared with $104 million (28 cents) a year earlier. Total sales grew to $10.19 billion from $10.17 billion a year ago, helped by a continuing recovery in Southern California.


The company, which last week said it was considering putting itself up for sale, reaffirmed guidance for the full year that was in line with analyst targets.


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